Product repositioning refers to
A)a decision made by marketers regarding which two firms they consider to be their most dangerous competitors and on which criteria they can compete most effectively.
B)using sensitivity analysis to place products on a grid to identify potential untapped markets.
C)changing the place an offering occupies in consumers' minds relative to competitive products.
D)the practice of selling-off a firm's least successful product line and redirecting that revenue into a totally new product.
E)the practice of selling-off a firm's least successful product line and redirecting that revenue to other more promising products or product lines within the firm.

Question

Quizplus · Accepted Answer

Product repositioning involves changing the perception consumers have about a product in relation to its competitors. This is done by changing the product's features, price, packaging, advertising, or other marketing elements. The goal is to make consumers see the product in a different light and prefer it over its competitors. A and B are incorrect because they do not define product repositioning. D and E are incorrect because they refer to divesting or redirecting resources, which is not the same as repositioning a product.

Product Repositioning Refers to