Your company has a product that is struggling in its market. However, the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?
A) Increase the price and implement a run-out strategy.
B) Immediately drop the product.
C) Increase the marketing for the product and gradually phase it out.
D) Reduce the price and implement a run-out strategy.
E) Increase the marketing expenditures on the product and implement a run-out strategy.

Question

Quizplus · Accepted Answer

Reducing the price and implementing a run-out strategy would be the most appropriate action in this scenario. By reducing the price, the product will become more attractive to consumers, and the run-out strategy will help to sell off the remaining inventory. This way, the company can recover some of the costs associated with the product, while also minimizing any potential losses. Increasing marketing expenditures or phasing out the product gradually may not be effective, as the product is already struggling in its market. Simply dropping the product immediately or increasing the price may not be viable options, as they could result in significant losses for the company.

Your Company Has a Product That Is Struggling in Its