LuxSpeed Inc.is a car manufacturing firm.It is experiencing a decline in the sales of a model released in the 1990s.At this stage, LuxSpeed Inc.should focus all its marketing efforts toward:
A)producing new variations of the model.
B)increasing the number of users and the frequency of use for the model.
C)developing new uses for the model.
D)altering the appearance of the model.
E)targeting a particular segment of brand loyalists interested in the model.

Question

Quizplus · Accepted Answer

Since the model is experiencing a decline in sales, it may not be profitable to produce new variations of the model or alter its appearance. Developing new uses for the model may not be feasible either. Instead, LuxSpeed Inc. should focus on targeting a particular segment of brand loyalists interested in the model. This can be achieved by identifying the specific characteristics and preferences of this segment and tailoring marketing efforts to appeal to them. By increasing their loyalty to the brand, LuxSpeed Inc. can potentially increase the number of users and frequency of use for the model.