ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which choices is not an extension strategy that could be used to lengthen a product life cycle?
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The launch of a new product to replace the declining one
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A new design of an existing product
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The sale of the product in new markets e.g. other countries
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The re-launch of the product with a new advertising campaign
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Explanation:
Detailed explanation-1: -Decline Stage Marketing Strategy 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.
Detailed explanation-2: -Introduction. Growth. Maturity. Decline. – Innovate and add new features. Products reach maturity and then gradually start to decline once the market becomes saturated. – Use bold marketing/advertising campaigns. – Identifying new markets. 19-Jan-2021
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