What are methods used to prolong the life of a product?

• A. Extension strategies
• B. Marketing strategy
• C. Product portfolio
• D. Flexible workforce

Answer: (A)

Extension strategies are the methods used to prolong the life of a product. They focus on refreshing the offering to sustain or revive demand, such as updating features or design, improving quality, changing packaging or branding, introducing new variants, entering new markets, or using targeted promotions and pricing to rekindle interest. The goal is to delay the decline phase in the product life cycle and maximise profits by keeping sales going longer. Broader ideas like a marketing strategy cover overall promotion and sales plans, not specifically how to extend a single product’s lifespan; a product portfolio is about the range of products a company offers; a flexible workforce is about staffing adaptability, which doesn’t directly affect how long a product remains successful.