Which of the following is an example of trading up?
A) Celestial Seasonings, a company known for its herbal teas, has introduced a caffeinated line of tea called Fast Lane.
B) Larry's Furniture Store has changed its name to Nouveau Style and started selling reproductions of . antique pieces from colonial America.
C) The Little Theater expanded its facilities so it now has space to offer dinner along with its show.
D) WPTY, a local radio station, added a lunchtime traffic report.
E) Gwen's House of Brides now rents tuxedos, too.

Question

Quizplus · Accepted Answer

Trading up refers to a strategy where a company moves its product or service to a higher market segment, often by improving quality, adding features, or shifting to a more upscale or sophisticated brand image. In choice B, Larry's Furniture Store is moving to a higher market segment by selling reproductions of antique pieces from colonial America, which implies a shift to more upscale, higher-quality products.

Which of the Following Is an Example of Trading Up