extension strategies Flashcards
1
Q
advertisement
A
attract new customers, remind previous customers, encourage existing customers to buy product.
2
Q
changing price
A
increased competition, to reduce this price is reduced. this will encourage people to buy as people buy cheaper product.
3
Q
adding value
A
this is making changes to the product, changing pack sizes, adding variety, adding new features.
4
Q
exploring new markets
A
finding a new physical market- difference countries etc. or new target group who don’t already buy.
5
Q
new packaging
A
give a fresh/new look, encourage new customers to buy, attract old customers.
6
Q
why would you need to?
A
sales are dropping and you are coming close to the end of the product lifestyle.
