Mature phase of their life cycle

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Reference no: EM132148106

Apple is a great example of a brand that good at this and they continue to introduce innovative products to replace those in the mature phase of their life cycle. When a firm's brand like Apple and related products have won loyal customers, it can be successful for a long time, even in a mature or declining market. However, continued improvements may be necessary to keep up with shifting customer needs and this is an area in which Apple excels. At some point, managers must consider whether to continue improving a product in maturity or launch a new product to take its place since the brand strength may be affected. The main options include introducing a new or vastly improved product that starts a new life cycle or begin to phase out and then withdraw the old product in an effort to keep the brand strong. What are some other examples that come to mind?

Reference no: EM132148106

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