A company changes the colour, design and packaging of an existing product while keeping its basic function unchanged. Which product strategy is this?
Correct answer: A. Product modification
- A. Product modification
- B. Market development
- C. Diversification
- D. Channel expansion
Explanation
Product modification changes features, appearance or presentation of an existing product to improve its appeal. Market development seeks new markets, while diversification involves a new product and a new market.
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