Asked by Abbie Medina on May 10, 2024
Verified
Which of the following is true?
A) To reduce cannibalization among products,reposition a product so that it does not directly compete with the other
B) After acquiring a substitute product,raise prices on both the products
C) After acquiring a complementary product,lower prices on both the products
D) All of the above
Reposition
The process of changing a product's place in the market, which can involve altering its image, price, features, or target audience to better meet strategic goals.
Substitute Product
A good or service that can replace another to fulfil the same needs or desires, offering an alternative choice to consumers.
Complementary Product
A product that adds value to another primary product, usually leading to increased demand when paired together.
- Acquire knowledge on the tactical approaches of product positioning to decrease self-cannibalization among a firm's offerings.
- Gain insight into the effects of product complements and substitutes on pricing and marketing methodologies.
Verified Answer
Learning Objectives
- Acquire knowledge on the tactical approaches of product positioning to decrease self-cannibalization among a firm's offerings.
- Gain insight into the effects of product complements and substitutes on pricing and marketing methodologies.
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