Posted in Marketing and Strategy Terms, Total Reads: 470
Definition: Facelift (Product)
A facelift for a product is changes in its visual appearance and features, but the core design and interior engineering remains more or less the same. The product serves the same target market even after a facelift.
Automobile companies regularly use facelifts to keep the car models relevant and sustain their competitive edge throughout the product life cycle, especially during the maturity phase.
E.g. The Mahindra XUV500 got a facelift, with mostly cosmetic changes refreshing its appearance.
The old Mahindra XUV500 on the left (in red). The facelift model in white