Which of the following could cause a firm to initiate changes in a product's value proposition?
A)A close competitor introduces an enticing new feature in their product
B)Declining sales of one of your product families for three consecutive quarters
C)A fast-growing consumer demographic responds to lifestyle appeals in preference to product appeals
D)All of these
E)None of these

Question

Quizplus · Accepted Answer

A close competitor introducing a new feature could cause a firm to initiate changes in their own product's value proposition in order to stay competitive. Declining sales of a product family for three consecutive quarters signal a need for change in the product's value proposition. A shift in consumer demographics and preferences could also lead to a need to modify the product's value proposition to better appeal to the new demographic.

Which of the Following Could Cause a Firm to Initiate