Which of the following best describes the strategy where product variants are developed to appeal to different segments of the market or to satisfy customers' needs for variety?

Question

Quizplus · Accepted Answer

The strategy where product variants are developed to appeal to different segments of the market or to satisfy customers' needs for variety is known as a product line strategy. This involves developing multiple products within a similar category or range to target different customer needs and preferences. The production line strategy focuses on optimizing production efficiency, the customer line strategy focuses on tailoring marketing and sales efforts to specific customer segments, and the competitor line strategy involves differentiating products from competitors through pricing, features, or other factors.

Which of the Following Best Describes the Strategy Where Product