4.8 Extension strategies - Quiz

1. Which term describes the methods a business uses to prolong the life of a product once sales begin to fall?

Extension strategies

Adding value

Advertising

Price changes

2. What is meant by 'adding value' as an extension strategy?

Improving the specification of an existing product

Selling an existing product in a new country or to new customers

Reducing the price to attract more customers

Changing the packaging to make it more appealing

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