Let's say we're rolling out the successor to our most popular product. How do you position the legacy product so it continues to sell?

"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.