MX Bikes (MXB)

MXB's high-quality mountain bikes are sold at a high price to high-income leisure users, in a limited number of specialist bicycle shops. Rani, the Managing Director, is concerned that MXB's sales of mountain bikes have declined by 12% over the past year. Demand for mountain bikes in country J has remained static. She has asked the Marketing Director to recommend extension strategies to increase MXB's market share.

Evaluate how MXB can change its marketing mix to extend the product life cycle of its range of mountain bikes.