What strategies are suitable

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React promptly to changes in demand. If a company constantly monitors the life cycle, it will notice in time when the cycle is moving towards a decline. This gives time to develop a redesign or relaunch strategy.

Increase the effectiveness of marketing campaigns. Each stage of the life cycle has its own promotion strategy. For example, at the first stage, you need to increase brand awareness, and at the maturity stage, work on promotions to stimulate sales.

Stay competitive. When the cycle starts to grow, competitors who can denmark telegram mobile phone number list offer an improved analogue often become active. It is important to monitor the changes in the life cycle and the actions of other sellers. This will help you react to the market situation faster and develop a suitable strategy.

Let us consider in more detail the features of each stage of the life cycle.

Introduction or implementation
A brand introduces a new product and starts selling it actively. Another option is when a new brand enters the market with a product that is already familiar to consumers.