To increase value marketers may increase benefits, decrease price, or _________.
A)decrease benefits and increase price
B)decrease both price and benefits
C)both increase benefits and decrease price
D)decrease price and decrease benefits
E)do nothing and let the perceived value of the item increase as it matures in the life cycle

Question

Quizplus · Accepted Answer

Both increasing benefits and decreasing price would increase the value of the product in the eyes of the consumer. This strategy is often used by marketers to differentiate their product from competitors and increase sales. Decreasing benefits and increasing price (A) or decreasing both price and benefits (B) would decrease the value and likely result in fewer sales. Decreasing price and benefits (D) would not improve the value proposition and could potentially harm the brand. Doing nothing and relying on the perceived value of the item to increase over time (E) is not a proactive strategy and may not result in significant value enhancement.

To Increase Value Marketers May Increase Benefits, Decrease Price, or _________