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extension strategy

Contributor(s): Ivy Wigmore

An extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline. 

Extension strategies include rebranding, price discounting and seeking new markets. Rebranding is the creation of a new look and feel for an established product in order to differentiate the product from its competitors. At its simplest, rebranding may consist of creating updated packaging to change the perception of the product. 

More complex rebranding efforts can include new advertising strategies, extensive public relations (PR) and social media marketing campaigns. 

This was last updated in August 2015

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I have some business idea  would like to share

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Hi pal. I dont understand why you put that message on here at 4:15 am but i am wiling to talk business after a nice expensive dinner for two ! After dinner we can swing by my place and talk some business
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