Question

The ABC Company sells plastic model cars in retail stores primarily to hobbyists. It has decided to modify the cars’ exterior packaging, giving the car a more sophisticated look that will appeal to more discerning buyers. The ABC company has changed its: a)business model. b)target market. c) supply chain. d) distribution method.

Answer 1

Ans (b) The ABC Company sells plastic model cars in retail stores primarily to hobbyists. It has decided to modify the cars’ exterior packaging, giving the car a more sophisticated look that will appeal to more discerning buyers. The ABC Company has changed its Target Market.

Business Model: It describes how an organization creates, delivers and capture value in economic, social, cultural or other context.

Target Market: A target market is an important step in the development of a marketing plan.

Supply Chain: It is a system of organization, group of people, activities etc involved in moving a product or service from supplier to customer.

Distribution Method: It is a marketing distribution method. Distribution methods are of two types’ direct distribution and indirect distribution.