Question

An organization that actively goes after its competitors' loyal customers is following which strategy to keep up revenue in the maturity stage? (needed asap!!)


a) marketing mix modification

b) market modification

c) product modification

d) brand extension

Answer 1

Answer:

a) marketing mix modification

Explanation:

Marketing mix modification is a set of changes that the company can make to their marketing strategy. This modification is intended to attract a new consumer base that can't be obtained with their existing marketing strategy.

in order for a marketing mix modification to be successful, the company need to find out the reasons why some of the consumers choose the competitor's product over theirs in the first place.

After knowing this, they need to make some adjustment to their products to attract the attention from this consumers' base and give a strong reason on why the consumers need to use their product over the competitor's product.

Answer 2

Answer:

the answer is b, market modification.  

Explanation:

Just did the test. Got it right. b