Strategies that alter a product's characteristic such as its quality, performance, or appearance to increase the product's value to customers and increase sales are referred to as _________.

Question

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Product modification is the strategy that involves altering a product's characteristics to enhance its value and increase sales. This can include improving its quality, performance, appearance, or adding new features to make it more appealing to customers. Market modification involves changing other aspects of the marketing mix, such as pricing or promotion, to better target a specific market segment. Product repositioning involves changing how a product is perceived by customers and the market in order to better fit a new market segment or address changes in the competitive environment. Market-product strategy involves finding new market opportunities for existing products or developing new products for existing markets. Diversification involves expanding a company's product offerings into new markets or industries.

Strategies That Alter a Product's Characteristic Such as Its Quality