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Mature product market

Without intervention, there's a risk that sales will stagnate or decrease due to market saturation. This fate is not inevitable, however. Smart marketing strategies can help to generate sales during the maturity stage of your product and sustain your market share. Expand the Customer Base One broad marketing objective is to capture new customers who are yet to use the product or brand, either by entering new markets or geographies or by enticing a competitor's customers to become your own. UGG boots, for example, reached maturity in the niche surfer market before switching focus to market extensively to young women.

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Ability to make data-driven UX decisions Prioritization of meaningful product updates How does your company and product compare to competitors? Questions marketing needs to answer How are you positioning your product? If your current product is more advanced than competitors, you may be best positioned to earn a dominant market share—which means pushing more resources into current campaigns at the expense of near-term profits.

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How can organizations grow and survive in the maturity stage? A market will go through different stages during its life cycle. From infancy to decline, the way an organization conducts business keeps evolving alongside the development of the market. The strategies an organization employs during the introduction stage are vastly different from the plans they make for the growth stage.

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Decline Stage: The decline stage of the product life cycle is the terminal stage where sales drop and production is ultimately halted. Profitability will fall, eventually to the point where it is no longer profitable to produce, and production will stop. As a number of companies start to dominate the market, it becomes increasingly difficult for the company in question to maintain its level of sales.

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A life cycle is a course of events that brings a new product into existence and follows its growth into a mature product and eventual critical mass and decline. How a Life Cycle Works It is important for investors to understand a company's product life cycle. Firms that are predominately in the development phase will likely be characterized by small levels of sales and are more speculative in nature than firms in the growth or maturity phase. The five stages of a typical life cycle are: The product development phase includes market analysis, product design, conception, and testing.

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