RO67 - 4.8 - Extension strategies for products in the product li

What is the main reason companies try to extend the life of a product?

• To increase brand awareness
• To create new products
• To save money and time
• To make the product more popular

Which of the following is NOT a strategy for extending a product's life?

• Lowering the price
• Adding new features
• Creating a new product
• Exploring new markets

What is one way companies can use packaging to extend a product's life?

• Using the same packaging for all products
• Making the packaging more expensive
• Using different colors or logos
• Removing the packaging entirely

Why do companies use advertising as an extension strategy?

• To remind customers about the product
• To increase production costs
• To reduce product quality
• To change the product's name

How can lowering the price extend a product's life?

• By making it less affordable
• By attracting new customers
• By reducing sales
• By increasing production costs

What is the risk of raising the price to extend a product's life?

• Losing existing customers
• Increasing sales
• Reducing production costs
• Attracting new customers

How can adding value to a product extend its life?

• By making it less appealing
• By adding new features or improvements
• By reducing its functionality
• By increasing its price

What is one benefit of exploring new markets?

• Reducing the product's lifespan
• Increasing production costs
• Attracting a different audience
• Reducing the product's value

How can new packaging extend a product's life?

• By making it less attractive
• By using outdated designs
• By appealing to a different audience
• By reducing the product's quality

When is the right time to implement extension strategies?

• During the introduction stage
• During the growth stage
• During the maturity stage
• During the decline stage