Venus Corp. a high-technology, gadget-making company has introduced a gaming console with attractive features. Even though the console is priced modestly and has better features than the existing ones, it has failed as many customers are apprehensive about buying it. In order to create demand, Venus Corp. should:
A) price the console extremely high.
B) create its own set of technical standards.
C) ensure that there are adequate complementary products.
D) use minimalistic and subtle advertising and marketing strategies.
E) avoid licensing the format to other companies.

Question

Quizplus · Accepted Answer

The reason for the failure of the console despite its attractive features and modest price is the lack of adequate complementary products. Venus Corp. should focus on developing and providing a range of complementary products such as games, accessories, and services to create demand and generate interest among customers. By doing so, customers will see the value and utility of the console, leading to higher sales and revenue for Venus Corp. Pricing the console extremely high, creating its own set of technical standards, using minimalistic and subtle advertising and marketing strategies, and avoiding licensing the format to other companies may not address the root cause of the problem, which is the lack of complementary products.