A gaming console developed by a U.S.technology firm is priced at $500 in the United States.The firm markets a modified version of the product in the Indian market to decrease its costs and cater to low-income consumers.The factor that is influencing the product strategy of the firm is:

Question

Quizplus · Accepted Answer

Economic development influences a firm's product strategy when it modifies a product to cater to low-income consumers in different markets, as it indicates adapting to the purchasing power of consumers in a specific region.

A Gaming Console Developed by a U