These strategies are as follows: renew the product. You can do it by improving the product, changing the packaging, etc. Substituting the product: replacing that product with another with improvements can sometimes be cheaper than trying to renew the product and release it again. Expand the range – expanding the range India B2B List is another great option. Renew the Product Is a Good Way to Lengthen the Life Cycle.
It basically consists of launching a new product on the market that complements the existing product. This usually has the direct effect of lengthening the life of the product that was beginning to overwhelm the consumer. Examples in the following section we will show you an example of the life cycle of a product that you are surely familiar with: yogurt shakes or smoothies. Renew the Product Is a Good Way to Lengthen the Life Cycle.
Although at First it did not Have Much Acceptance
The launch of the yogurt smoothie consisted of publicizing this new product through images in the establishments, images with designs that captured the attention of customers and through email marketing, making the product known to potential customers.
Although at first it did not have much acceptance, little by little the growth phase began. Growth – customers already knew there was a new product and became interested in it. As the consumption of yogurt smoothie increased, the company was able to buy yogurt from wholesalers, thus minimizing the cost of the product. Maturity : the euphoria associated with yogurt shakes stopped.
However, This is About Stories
It has not yet reached the decline phase. This is about stories! Stories are liked and are a successful resource for new marketing strategies . Through a story, it is possible to learn about products and services. And, an emotional connection with customers or consumers is naturally generated, which increases brand recognition and loyalty.
Traditional marketing techniques are becoming less and less effective audience. Today’s consumers know what they want and it is a priority to find what empathizes with them to attract them. Thanks to the very nature of a story, it is possible to create a very complete and valuable strategy that helps not only to show part of the company’s philosophy but also to sell our services and products in a subtle and exciting way.