Extension Strategies Flashcards

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What is an extension strategy?

A way to keep a product selling for longer and delay decline.

At which stage are extension strategies mainly used?

At the maturity stage of the product life cycle.

What does launching a new variant mean in extension strategies?

Adding a new flavour, colour, or size to refresh interest.

How can new packaging extend a product's life?

It makes the product look fresh and can attract new buyers.

How can price promotions act as an extension strategy?

Price cuts or special offers lift sales for a short time.

How does new advertising help extend a product's life?

New adverts remind people and can bring in new customers.

What is meant by finding new uses for a product?

Showing different ways to use it so people buy it more often.

How can targeting a new market extend a product's life?

Sell to a new age group or region to win extra sales.

How does improving the product support extension?

Add features or raise quality to keep it relevant.

What is rebranding as an extension strategy?

Changing the name, logo, or image to refresh the product.

How can changing where a product is sold extend its life?

Sell in new places, like online or new shops, to reach more people.

What does adding value mean in extension strategies?

Offering extras, like bundles or free gifts, to boost appeal.