Question

Thirty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a ________ strategy. Multiple Choice market-product grid product repositioning product modification diversification market modification

Answer 1

Answer:

Product modification

Explanation:

Product Modification refers to the improvement of the existing products or even services making necessary changes in the characteristics, nature, size, packing and colour, etc., of the products so that the changes in demand of consumers may be dealt effectively.

Answer 2

Answer:

The correct answer is letter "C": product modification.

Explanation:

Product modification refers to the efforts companies make to diversify the goods they offer in an attempt to generate more revenue by capturing more consumers. In some cases, firms take a product of one of their lines and add or remove features. In other cases, corporations add a completely different product to their manufacturing activities to cover the needs of a hidden sector of the market.