Product 2 (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What are extension strategies?
What are extension strategies?
Techniques to prolong product life
What is the main purpose of extension strategies?
What is the main purpose of extension strategies?
Prevent products entering decline phase
At which product life cycle stage are extension strategies most commonly applied?
At which product life cycle stage are extension strategies most commonly applied?
Maturity
In the decline stage, what happens to sales?
In the decline stage, what happens to sales?
Sales fall as product becomes outdated
Which is an example of an extension strategy?
Which is an example of an extension strategy?
Launching fresh marketing campaigns
How do the most successful extension strategies maximise impact?
How do the most successful extension strategies maximise impact?
Combine multiple approaches
What does product differentiation involve?
What does product differentiation involve?
Making products stand out from rivals
What can businesses do when they successfully differentiate their products?
What can businesses do when they successfully differentiate their products?
Command premium prices
Which is a method of differentiating products?
Which is a method of differentiating products?
Quality improvements
What is a Unique Selling Point (USP)?
What is a Unique Selling Point (USP)?
What makes product obvious choice for some
Why is differentiation fundamental to business success?
Why is differentiation fundamental to business success?
Builds customer loyalty
How should businesses approach product differentiation for maximum effectiveness?
How should businesses approach product differentiation for maximum effectiveness?
Combine multiple methods