Which strategy involves altering products to better meet consumer needs?

The strategy that involves altering products to better meet consumer needs is product development. This approach focuses on enhancing existing products or creating new ones that align more closely with customer preferences and demands. Companies engaging in product development often conduct research to understand consumer behavior, identify gaps in the market, and improve features, quality, or designs of their offerings. By doing so, they aim to increase customer satisfaction and drive sales.

This process not only considers current trends and technologies but also seeks feedback from consumers to iterate and refine products effectively. Therefore, product development is crucial for businesses that want to stay competitive and relevant in an ever-changing market.