Table 4 Overview of extraction strategies
Strategic options | Description | Effect | Source |
|---|---|---|---|
Continuation of existing product line | Leverage promotional campaign and pricing strategies to maximize the potential turnover | Short-term | |
Differentiation | Competitive advantage through brand recognition; strong brand image | Mid-term | Agrawal and Thakkar (1997) |
Exit strategy | ‘Milking’ of the product; letting the product slowly phase out | Short-term | Chandon (2004) |
Licensing | Licensing or selling of the exclusive rights to generic manufacturers | Short-term | Glasgow (2001) |