1.3.5 Marketing Strategies - Extension strategies

Question 1

Extension strategies

Answer 1

Ways to prolong life of a product before sales start to decline

Question 2

What does extension strategies help to generate

Answer 2

More cash

Question 3

2 ways in which a businesses can extend their products

Answer 3

1) Product development

2) Promotion

2) Promotion

Question 4

Examples of product development

3

Answer 4

• Updating current models e.g cars bringing out updated versions of successful models
• Adding value e.g Apple making laptops more slicker/Trendy
• Extending product range e.g Walkers bringing out new flavour crisps

Question 5

Examples of promotion

Answer 5

• Re packaging
• Re branding
• New markets e.g overseas , different market segment
• More frequent use e.g cereals packaging says have cereals as snacks

Question 6

Promotion

Answer 6

the process by which people are encouraged to buy a businesses product or service

Question 7

Examples of promotion - 4

Answer 7

• Re packaging - e.g newer design.This keeps it fresh
• Re branding - e.g Marathon became snicker (look at slides)
• Promote your product overseas/different market segments.
• Promote & Encourage more frequent use. e.g having cereal as a snack.