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DB Forum 4 - Wilson, Lisa

When a product is modified it may have added features

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When a product is modified, it may have added features or characteristics to evolve into a better, more modern product (Kerin et al., 2011, p. 242). If the desire is to gain new customers, or to increase the usage of a product, a company must find new ways to market the product (Kerin et al., 2011, p.243). When a company repositions a product, it may add value to the product and increase the price of the product, or it may opt to remove some of the product features in order to lower the price (Kerin et al., 2011, p.243). Modifying a product is a good strategy employed by organizations in order to maintain the attention of its customers. A good example of modifying a product would be the automobile industry. Specifically, Ford manages to come out with newer and improved models of vehicles in order to meet the desires of its customers, in addition to incorporating cutting edge technology into these vehicles. Repositioning a product is another good strategy used by organizations in order to remain relevant to its customers. For example, Captain D’s desired to position itself as a dine-in restaurant as opposed to simply a fast food joint like Long John Silvers. In order to implement this change in appearance, Captain D’s began delivering orders directly to the customer’s table,
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Segmenting the Market – Target Marketing – Product Positioning as well as, began offering a higher quality menu. In this particular instance, Captain D’s modified their product in addition to repositioning their product line. References Kerin, R.A., Hartley, S.W., & Rudelius, W. (2011). Marketing: The core (4 th ed.). New York, NY: McGraw-Hill/Irwin.
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