A good product design practice has made significant strides in facilitating the good development of products that satisfy individual needs and are easy to use. While User-Centered Design (UCD) takes place as a popular development methodology, the usability of products, systems and many User Interfaces (UI) has improved. An alternative method for representing and communicating customers needs from a product is the use of personas. By using a name, picture and narrative, a persona provide product designers and developers with a vivid representation of the target and of the focus group.

Steve Barnett show us from the User-Centered Design process article that a process to create and update a personas can be sketched and should contain at least the following information:
Picture
Name
Quote
Job title

The Answer
You might choose option (1.) if you conclude that you have a generic new group of customers to update your personas. Or you might choose option (2.) if you out of budget and time or you still maintain the same user profile characteristics.