Question

Cid'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 Cid product manager do in order to improve upon the buying criteria, and thus potentially increase demand?Select : 1Save Answer Lower the selling price since it is the second most important buying criteria Increase MTBF by 2000 Reposition Cid to make it even smaller and higher performing Increase the promotion budget to gain greater awareness

Answer 1

Given: An existing company(Cid) that is performing well and another company with the potential of taking over the lead from the existing company

To Determine: What the existing company (Cid) product manager do in order to improve upon the buying criteria, and thus potentially increase demand?

Solution

The following are the ways to increase the buying criteria and increase demand

We can improve the quality of the product to attract customers.

• We can add new features to the product and improve the styling technique to increase the demand.

• We have to try to convert non-users into users to buy the product so that it can improve the buying criteria.

• We have to give more advertisement campaigns and more promotional activities.

• We can enter into new market segments and distribution channels so that the demand for the product increases.

Comparing the above and the given options will help select the best options