Post by jiniya123 on Jan 3, 2024 3:06:43 GMT
Possible that imitators of the service will appear so consumers must be retained and brand presence expanded. Thanks to early revenue companies can reinvest part of the profits into further advancements to keep their product up to date for as long as possible. It is also a good time to incorporate improvements by having enough feedback and comments from users. Stage maturity of a product Having reached the top of the mountain sales stabilize. The market has adapted to the use of the product and the challenge is to remain among the first purchase options for as long as possible.
To build brand loyalty focus on providing excellent service and customer experience. Promotional practices such as loyalty programs can also be used. Other options are to implement the already consolidated product in other parts of the world facing the expansion of the company or to look for new uses for it. In the maturity phase it is advisable to focus on offering excellent service and customer experience Graphics Design Service In the maturity phase it is advisable to focus on offering excellent service and customer experience Stage decline of a product Despite attempts to postpone it the decline of a product and its disappearance always come. The moment when market share begins to fall and sales decline is usually caused by four factors The product has become outdated or has been replaced by another. The novelty has worn off and customers have lost interest.
The competition is too high. An event has damaged the brand image. A good way tohas reached this stage or can still be relaunched is to check if technological advances have made it obsolete or if similar options exist at a lower price. Examples Extremely popular inventions such as the typewriter created in have permanently ceased production. The last factory that produced them was in India and closed its doors in due to falling demand. An example of a more recent invention.