These include the relaunch, update and extension of the maturity phase. Relaunch: it is about offering almost a different product with the name of the original. It does not always work because loyal consumers do not agree that the characteristics that they appreciate of the first one are changed. Update: It's less of a risk because it's more of a makeover. Some improvements are made to make the original product more attractive and not seem outdated compared to the competition.
Prolongation of the maturity phase: the effort falls mainly on advertising. More frequent use is sought. In other cases, changes in habits are proposed so that Whatsapp Mobile Number List consumption is extended over time or to new segments of the population. As you can see, in-depth knowledge of each phase is useful to make a product appear at its best, gain market share and stay profitable for longer. The most appropriate product strategies should emerge from the analysis of each stage to optimize resources and achieve the objectives until the end of the decline phase.
However, it is not necessary to wait until then for a company to decide to launch a new product to replace the first one. A good indicator for the new release is when it reaches the highest point on the sales curve of the old one. In this way, the benefits that the first product would be reporting would serve to put the second on the market.