Question

Bell's product manager continues to perform well in the market. However, a competing product is coming on strong and is looking to take over as the market share leader in the segment. Without sacrificing contribution margin, what can the Bell product manager do in order to improve upon the buying criteria, and thus potentially increase demand

Answer 1

Bell product manager can increase the promotion budget to gain greater awareness in order to improve upon the buying criteria, and thus potentially increase demand.

What is promotion budget?

A promotional budget is a specified amount of money set aside to promote the products or beliefs of a business or organization.

Promotional budgets are created to anticipate the essential costs associated with growing a business or maintaining a brand name.

Hence, Bell product manager can increase the promotion budget to gain greater awareness in order to improve upon the buying criteria, and thus potentially increase demand.

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