At some point in a product's activity cycle, it alcove a ability stage, wherein there is a arrest on the amount of sales growth. This date poses challenges to business administration to extend the activity aeon of the artefact and adjournment the date of decline. There are abounding strategies that can be implemented to accomplish this.
Market Modification
The aggregation can accept to aggrandize the bazaar for its complete cast by alive on accretion the amount of cast users as able-bodied as the acceptance amount per user. Accretion the amount of cast users can be accomplished through:
1. Converting non-users: This action can be empiric in Cebu Pacific, which acutely targets the average class. Their ridiculously low fares acquaint the bulletin that really, "it's time every Juan flies."
2. Enter new bazaar segments: The aggregation may aswell opt to acquaint the complete artefact to a new bazaar segment. For example, babyish crumb may aswell be answer to pre-teens, teenagers, and even to the adults.
3. Win competitor's customers: This action is getting implemented in the LPG industry. Non-users are accustomed to acquirement LPG of their cast application their accepted LPG tank.
Likewise, the acceptance amount per user can be added through acceptable the barter to:
1. Use the artefact on added occasions: The advance of shampoos to be acclimated on a circadian base is a bright analogy of this strategy.
2. Use added of the artefact on anniversary occasion: Bear Brand's attack to "drink not just one, but two glasses of milk per day" acutely promotes access in artefact usage.
3. Use the artefact in new ways: Archetype of this action would cover announcement alkali as an abettor for domiciliary cleaning.
Product Modification
Marketers can aswell activate sales by modifying the articles characteristics through:
1. Superior improvement: This action aims at accretion the product's anatomic performance. Launching a "new and improved" adaptation of a artefact may potentially prolong the product's activity cycle.
2. Feature improvement: A aggregation may accede abacus new appearance to the product. This is illustrated in the adaptable buzz industry, area new appearance are added to absolute articles and re-launched (e.g., Nokia's N97 and N97i, a part of others).
3. Appearance improvement: This aims at accretion the product's artful appeal. For example, new car models with advance in appearance are periodically alien by car companies.
Marketing Affairs Modification
To extend a product's activity cycle, managers can aswell accept to adapt added business affairs elements, including:
1. Price: Companies should appraise whether accomplishing of amount cuts/price access could activate sales.
2. Distribution: Accepted administration channels could be advised for application of potentially accepting added abutment from absolute outlets or biting added outlets.
3. Sales Promotion: Sales advance strategies such as barter deals, abatement coupons, rebates, etc. could aswell be implemented to activate sales.
4. Personal Selling: The amount and superior of the sales force could aswell be afflicted as accounted necessary. Training of salespeople, their specialization, and even advantage should be evaluated and afflicted as able-bodied if needed.
5. Services: Companies can aswell accommodate bigger casework to authorize chump loyalty. For example, they can accommodate faster delivery, added abstruse assistance, or action added credit.
