Strategic Approaches for Maturity Stage Management PPT
This PPT slide, part of the 34-slide Product Lifecycle PowerPoint presentation, outlines 3 strategic options for businesses in the Maturity stage of the product lifecycle. It emphasizes the importance of understanding competitive dynamics to enhance profitability and extend the duration of this stage.
The first strategy, Maintenance, is relevant when threats from new competitors or technological innovations are low. Here, the focus is on sustaining market position through targeted advertising, promotions, and pricing strategies. Companies should also keep an eye on their competitive positioning and engage in product development to adapt to macro-environmental changes.
The second strategy is Defense. This approach is crucial when existing competitors are actively changing their marketing tactics. Businesses need to adjust their advertising and promotional efforts, improve product performance, and modify pricing and distribution strategies to maintain profitability. This strategy highlights the need for agility in response to market shifts.
Innovation is the third strategy, aimed at expanding the market and addressing customer needs. This involves developing new product variations or significant innovations to preempt competition. The slide mentions the concept of "flankers," which are new product lines designed to capture different market segments. Identifying and leveraging core competencies is also essential to navigate potential industry consolidation at the end of the Maturity stage.
Overall, the slide presents a structured approach to managing the Maturity stage, emphasizing the need for strategic foresight and adaptability to sustain market relevance.
This slide is part of the Product Lifecycle PowerPoint presentation.
This presentation is created by former McKinsey, BCG, Deloitte, EY, and Capgemini consultants. It explains the approach to Product Lifecycle Analysis utilized by global strategy consulting firms.
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Maturity Model Product Strategy Product Launch Strategy Product Lifecycle Core Competencies Strategic Foresight Product Development Innovation Positioning
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