Extension Strategy
What Extension Strategy means in Business GCSE, as defined for AQA, OCR.
Definitions of Extension Strategy
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Reference: AQA
A way to revive demand and delay or reverse decline by targeting new segments or updating the product.
Methods used to prolong the life of a product, preventing or delaying it from entering the decline stage of its life cycle.
Methods used to prolong the life of a product and prevent it from entering the decline stage of the product life cycle.
Methods used to prolong the life of a product and delay its decline.
Topics that use Extension Strategy
- Influences on business (AQA GCSE)
- The elements of the marketing mix: price, product, promotion and place (4Ps) (AQA GCSE)
- Marketing (OCR GCSE)
- The marketing mix (OCR GCSE)
Related terms
- Market Segmentation
- Price skimming
- Batch Production
- Just-in-Time (JIT)
- Market share
- Unique Selling Point (USP)
- Access to customers
- Adaptation and reaction
Using Extension Strategy in the exam
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