Optimus Template

Extending the PLC

A more likely scenario for companies at in the Early Maturity stage is to investigate new ways to grow the market in an effort to extend the growth stage of the PLC. The use of resurgence tactics include such measures as:

• Changing how customers use the product such as: encourage more frequent use or more consumption per usage (e.g., consume 2 units instead of 1 unit); suggest new benefits that can be obtained from using the product (e.g., has added health benefits not previously promoted); or suggest new uses for the product.
• Finding new markets not previously targeted.
• Developing new product options (i.e., product line extensions) that offer more or better features (e.g., easier to use, safer, more attractive) that may get existing customers to re-purchase more quickly then they would normally.
• Heightening interest by changing image through heavy promotion and package redesign.
• Competing with lower priced brands by offering own low price product through private label branding arrangement with distribution partners.

Add Comment