The first extension strategy that Adidas could consider is the idea of redesigning products. For example, as fashion tends to go out of trend or out of date, Adidas could reuse ideas from previous shoes and reincorporate those ideas in new shoes with slight adjustments. Since there are a large variety of designs for shoes, people will easily become excited over a different design, even though it may only be slightly different from one that was sold a couple of years ago.
The second extension strategy Adidas could consider is promotion. This includes offers such as discounts (i.e. 20% off, buy 2 get the 2nd one for half price), having a sale season (i.e. winter sales), limited time offers, or sponsorships. These promotions often work very well with footwear and apparel because these products are increasingly popular with Adidas. Having these promotions will increase the consumers’ desire for buying the products, and will even cause impulse buying, where the customer may buy something he/she did not intend to buy which leads Adidas to generate more sales and revenue.
The third extension strategy Adidas could consider is extending to new markets. Since Adidas’ sales are mainly focused on Europe, North America and Greater China, one strategy to extend the product life cycle is to sell these products in other countries such as Russia, South America, different parts of Asia and so on, and entering new markets to promote their products. This could include any one of their three product lines – footwear, apparel and accessories.
The second extension strategy Adidas could consider is promotion. This includes offers such as discounts (i.e. 20% off, buy 2 get the 2nd one for half price), having a sale season (i.e. winter sales), limited time offers, or sponsorships. These promotions often work very well with footwear and apparel because these products are increasingly popular with Adidas. Having these promotions will increase the consumers’ desire for buying the products, and will even cause impulse buying, where the customer may buy something he/she did not intend to buy which leads Adidas to generate more sales and revenue.
The third extension strategy Adidas could consider is extending to new markets. Since Adidas’ sales are mainly focused on Europe, North America and Greater China, one strategy to extend the product life cycle is to sell these products in other countries such as Russia, South America, different parts of Asia and so on, and entering new markets to promote their products. This could include any one of their three product lines – footwear, apparel and accessories.