Introducing often updated products challenges the manufacturers’ strategies in a dynamic consumer sector with ever-changing preferences. The present study explores these concerns by examining the price and quality of multi-generation products. This investigation also aims to determine the ideal time for a manufacturer to launch its new-generation product. Two distinct models are developed and analyzed: the Single-generation product (SGP) and Multi-generation products (MGP) models. The present study provides an optimization approach based on atomic orbital search (AOS). Numerical outcomes always prefer the multi-generation approach over the single-generation approach in every aspect. The results indicate that a controlled demand decay rate expands the launch timeline of an upgraded product while sustaining profitability. Finally, this investigation recommends managerial engagement in product upgradation to capitalize on the long-term benefits of a multi-generation framework.