Reducing the number of features, qualities, or price is referred to as _________.

Question

Quizplus · Accepted Answer

Trading down refers to reducing the number of features, qualities, or price to appeal to a broader or different market segment. This strategy is employed to offer a lower-priced option that attracts cost-conscious consumers. Product paring and simplification also refer to reducing a product's features or qualities without reducing its price. Down trading and product deflation are not commonly used terminology in marketing.

Reducing the Number of Features, Qualities, or Price Is Referred