Over time, firms change product items, lines, and mixes or take advantage of new technical or product developments. What is it called when a company changes a product characteristic?
A)diversification
B)repositioning
C)product modification
D)product line expansion

Question

Quizplus · Accepted Answer

When a company changes a product characteristic, it is called product modification. Option A, diversification, refers to a strategy in which a company enters into a new market with a new product. Option B, repositioning, refers to changing the perception or image of an existing product or brand. Option D, product line expansion, refers to adding new product lines to an existing product mix.

Over Time, Firms Change Product Items, Lines, and Mixes or Take