"It often makes sense to lower the price point of the legacy product, allowing it to appeal to a more money-conscious segment of the target audience. Just as there's always going to be a portion of the market who prefers the updated and newer features of a product and will pay extra money for it, there's also always going to be a group who are happy to forgo the new features and pay less for the legacy product they already like. Especially when it is a good product, as this is, since you mentioned it is your company's most popular product. This is the route we decided to take in a similar situation in my last job, and it was well received by our customers. By positioning the legacy product as a lower-cost alternative option that was still dependable, we were able to bring in a significant amount of revenue over the next several years we continued to offer it."

If you've been through this before: Use the STAR (situation, task, action, result) method to talk through what happened, the role you played, and the final outcome.

If you have not been through this before: Discuss how you would theoretically handle the scenario. Show a solid understanding of the company's products and target audience and offer ideas on how you would position the older product to still have a good appeal.