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What are extension strategies

Updated: Jun 18, 2023

Extension strategies help prolong the sales and profit of matured products


They include;

  1. New versions of existing products, with different variety of colour and sizes

  2. Accessing new markets in other locations

  3. Additional features on existing products

  4. New distribution channels

  5. Free delivery, trade-ins, extended warranty and other after sales services such as free installation

  6. Buy 1 free 1 promotions

What other extension strategies can you think off? Comment to discuss.


RELEVANT CONCEPTS


  1. Product Life Cycle

  2. Revenue / Sales

  3. Profit


PAST YEAR QUESTIONS


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