Final answer:
If a company updates a product's design to enhance functionality, the Functional component of the Product Component Model is altered. This component relates to the practical use and technical specifications of a product, separate from its core value, support services, packaging, or global components.
Step-by-step explanation:
The Product Component Model is a framework used in marketing to describe the layers of a product's components. The correct answer to which component will be altered if a company makes changes to the design of the product to improve its functionality is D) Functional component. When changes are made to a product's design to enhance functionality, it specifically targets the product's functional aspect, which is it's practical use and technical characteristics. For instance, if a smartphone company improves the phone's battery life, the improvement targets the device's functional component, not the core value (which would be the fundamental service of communication the phone provides), nor the support services, packaging, or global components.