Venus Corp.a high-technology, gadget-making company has introduced a gaming console with attractive features. Even though the console is priced modestly and has better features than the existing ones, it has failed as many customers are apprehensive about buying it.In order to create demand, Venus Corp.should:
A)price the console extremely high.
B)create its own set of technical standards.
C)ensure that there are adequate complementary products.
D)use minirnalistic and subtle advertising and marketing strategies.
E)avoid licensing the format to other companies.

Question

Quizplus · Accepted Answer

Offering complementary products such as compatible games, accessories, and services can increase the perceived value of the gaming console and provide customers with a complete solution. This can encourage customers to purchase the console and subsequently increase demand. Pricing the console extremely high (A) could deter customers, while creating its own technical standards (B) could limit compatibility with other products and alienate potential customers. Using minimalist and subtle advertising (D) could fail to generate the desired awareness and may not be enough to convince customers to purchase. Avoiding licensing the format (E) could limit the reach of the product and not necessarily increase demand.