Extension strategies
What Extension strategies means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Extension strategies
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Check what you remember
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Reference: Pearson Edexcel
Entering new international markets can act as one of these for a product in decline.
Deployed by firms to delay decline and prolong the profitable maturity phase.
Topics that use Extension strategies
- Conditions that prompt trade (Pearson Edexcel A-Level)
- Research and development (R&D) and innovation (Pearson Edexcel A-Level)
Related terms
- Product life cycle
- Capacity utilisation
- Competitive advantage
- Domestic competition
- Economies of scale
- Fixed costs
- Global supply chains
- Government intervention
Using Extension strategies in the exam
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