Question

Boat'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 boat product manager do in order to improve upon the buying criteria, and thus potentially increase demand?

Answer 1

Had to look for the options and here is my answer.
Based on the given scenario above regarding the product manager of Boat, the intervention that he can do in order to improve upon the buying criteria so that there would be a potential increase in demand is to "increase the promotion budget to gain greater awareness."

Answer 2

If a competitor is coming on strong in the market, there are a few things you can do to make sure your product stays in consumers minds. First, reach out to those who are loyal to your product and see how they feel about your product and brand. When reaching out to those who are loyal, it shows that you care about them and value them as a consumer. Also, you can increase your budget or focus advertising in other areas. If you see your new competitor focused on a certain demographic, try to focus your marketing efforts there too, to see if there are people you are missing with your current marketing efforts.