Product Life Extension

Product life extension refers to strategies used by companies to prolong the usefulness and relevance of a product beyond its initial launch period. This can include updates, improvements, redesigns, or added features that keep the product appealing to consumers. The goal is to maximize the product’s value, reduce waste, and delay the need for new production. Examples include software updates that add functionalities or new versions of a device that incorporate the latest technology. Overall, product life extension helps businesses maintain competitiveness while offering customers continued value from their existing investments.