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GCSE Business · key term
An action intended to maintain or increase sales of an existing product, delaying its decline and extending its life.
Used by AQA and Edexcel
Paper 2
Revise: The Product Life Cycle and Extension StrategiesThe challenge is to maintain those sales against competition and changing customer preferences. This is often a suitable time to consider an extension strategy rather than waiting for a steep decline.
Specification 2.2.1 · Paper 2
An action intended to prolong the sales life of an existing product by maintaining or increasing demand.
Revise: Product ManagementAn extension strategy aims to maintain or increase demand for an existing product, delaying its decline or withdrawal. Businesses can act during late maturity rather than wait until sales have already fallen sharply.
For an extension strategy, explain the chain: action → customer response → effect on sales → possible effect on profit.
Explain how an extension strategy would attract or retain customers, then consider its cost and whether the extra sales would make it worthwhile.
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