Question

Monica owns an equestrian clothing store. After many customers complained that her clothing only fit petite riders, she decided to add a new brand of riding clothes that makes clothing for all body shapes and sizes. In regards to the marketing concept, which of the following statements describes Monica's decision?

Answer 1

Answer:

Companies must be prepared at all times to add to or adapt their product lines to satisfy the desires of customers for them to remain competitive.

Explanation:

One of the strategies companies to remain competitive is to adjust to the demand of customers. This will allow a company to retain current customers and win potential new customers.

Although this strategy may require additional fund but failure to adapt and add new product lines that satisfy wants of the customers can the company out of business.

Therefore, companies must be prepared to add to or adapt their product lines to satisfy customers' desires in order to remain competitive.