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Product adjustment is the process of making changes or modifications to a product in order to improve its quality, functionality, or performance.
Product adjustment is necessary in order to keep up with market demands, stay competitive, and meet the changing needs of customers. It also allows companies to fix any issues or flaws with their product, enhancing its overall value.
Some common reasons for product adjustment include customer feedback, technological advancements, changes in industry standards, and improvements in production processes.
Product adjustment can affect pricing in various ways. If the adjustment results in improved features or functionality, the price may increase. On the other hand, if the adjustment reduces production costs, the price may decrease. Ultimately, the goal is to find a balance between the cost of production and the perceived value of the product.
The process of product adjustment typically involves identifying the need for adjustment, conducting market research, developing and implementing the changes, and testing the adjusted product. It may also involve communication with stakeholders, such as customers and suppliers, to gather feedback and ensure a smooth transition to the adjusted product.