1.3.5 Extension Strategies

Cards (2)

  • what are the 5 ways to extend the life cycle of a product?
    1. updating packaging
    2. adding more or different features
    3. changing target market
    4. advertising
    5. price reduction
  • Extension strategies are designed to extend the life of the product before it goes into decline One of the methods of extending the lifecycle is through product modification and a good example of this is cars, which retain the same engine but change the styling. This strategy will either sell to a new market or remind the old market that its time to change the products to the new version