BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is a way that a business can extend the life cycle of anestablished product?
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By promoting the product to current users
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By finding new uses for the product
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By restricting distribution
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By attracting consumers who are innovators
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Explanation:
Detailed explanation-1: -Although typically implemented during the introduction and growth phases of a product’s life cycle, this strategy can also be used during periods of decline to really extend its longevity.
Detailed explanation-2: -To extend the product life cycle, successful companies can also implement new advertising strategies, reduce prices, add new features to increase their value proposition, explore new markets, or adjust brand packaging.
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