BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which factors can trigger an organization’s decision to reposition a product, service, or brand?
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new internal hiring policies and accounting systems
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product features and traditional service offerings
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competition and consumer trends
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Explanation:
Detailed explanation-1: -Specific factors that can trigger the decision to reposition a product, service, or brand include the following: Competition: New competitors entering or leaving the market; competitors joining forces; a competitor’s innovation that threatens to make your offering obsolete; competitive pricing strategies.
Detailed explanation-2: -Repositioning is usually done when a company sees a decrease in sales and they realize it is time to implement some changes and develop. This is a necessity if they are to stay on top of consumer wants and needs in order to keep the brand alive.
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