Due to the fact the Honda Insight (a hybrid car) has never caught on with buyers, Honda decided to stop manufacturing the car in 2006. This will allow Honda to concentrate its resources on more profitable vehicles. Which of the following terms best describes this?
A)product line contraction
B)product diversification
C)product development strategy
D)market redeployment

Question

Quizplus · Accepted Answer

Product line contraction is the best term to describe Honda's decision to stop manufacturing the Honda Insight. This strategy involves reducing the number of products in a company's portfolio to focus on more profitable ones. In this case, Honda is streamlining its resources by eliminating a low-performing product to concentrate on more profitable vehicles in its product line.

Due to the Fact the Honda Insight (A Hybrid Car)