Question

Procter & Gamble repositioned its Old Spice antiperspirant brand from a deodorant your grandfather might use to a strong, hip antiperspirant through commercials that showed the target market of 18- to 30-year-old men advocating its use.
P&G used this product repositioning strategy with its Old Spice brand antiperspirant to:

A. catch a rising trend.
B. change the value offered.
C. reach a new market.
D. diversify its product portfolio.
E. react to a competitor's position.

Answer 1

Answer:

The correct option is reach a new market,option C

Explanation:

The strategy adopted by Procter and Gamble with respect to the deodorant is known as reaching a new market.

Market or market segment in this sense is a group of consumers who share similar characteristics such income level,age, level of education.

There is need to increase revenue and improve shareholders wealth,hence the company has to think out of the box by rebranding  an old product instead of devising a new product that would incur more costs in terms of research and development in order to  appeal to a new group of consumers,thereby increasing revenue overall.