Style improvement increases the product's esthetic appeal. Feature improvement adds size, weight, materials, supplements, and accessories that expand the product's performance, versatility, safety, or convenience. Quality improvement increases functional performance by launching a "new and improved" product. Product modification: Managers also try to stimulate sales by improving quality, features, or style. Market modification: A company might try to expand the market for its mature brand by working with the two factors that make up sales volume: Volume = number of brand users * usage rate per user. Three ways to change the course for a brand are market, product, and marketing program modifications. Which of the following can be inferred from the strategies adopted by the firm?Ī) The company was trying to protect its market share and continue to operate as a market leader.ī) The company was focusing on geographical expansion.Ĭ) The company was aiming to capture a new market segment.ĭ) The company was marketing its products amidst an economic downturn.Į) The company was focusing on market penetration. They also revamped their marketing strategy to focus on the values created by their products.
This led the firm to reduce operation costs while maintaining product quality.
Analysts pointed out that when all firms are losing sales, it is extremely important to adopt strategies that are aimed at retaining customers. However, market analysis revealed that its competitors' sales had also slackened during this period. 80) Benz & Frendz Corp., a manufacturer of high end consumer durables, experienced a sluggish sales growth in most of its product categories during three consecutive quarters of 2009.
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