Maturity Stage

At some point, a product's sales growth will be slow down, and the product will enter in a maturity stage. This maturity stage usually lasts longer than the previous stages, and to marketing management it poses strong challenges. Most of the products are in the maturity stage of the life cycle, and so most of marketing management deals with the mature product. In sales growth the slowdown results in various producers with various products to sell. This over capacity, In turn, leads to higher competition. Competitors start marking down cost, increasing their advertising and sales promotions, and increasing their R&D budgets to discover better versions of the product. These steps lead to a drop in profit. Some weaker competitors begin dropping out, and eventually the industry contains just well-established competitors.

Although various products in the mature stage seem to remain unchanged for long periods, most of the successful ones are in fact evolving to meet changing consumer needs. Product managers should do more than merely ride along with or defend their mature products-a good offense is the best defence. They should refer modifying the product, market and marketing mix.

In modifying the market, the company attempt to increase the consumption of the presant product. It looks for new users and market segments, as while Johnson & Johnson targeted the adult market along its baby powder and shampoo. The manager also looks for different ways to increase usage amongst present customers. Campbell does it by offering recipes and convincing consumers that "soup is good food." Or company might be desire to reposition the brand to appeal to a larger or faster- growing segment, as Arrow did while it introduced its fresh line of informal shirts and announced, "We're loosening our collars."

The company may also try modifying the product-changing characteristics like quality, features, or style to attract new users and to motivate more usage. It can improve the product's quality and performance-its reliability, durability, speed, or taste. Or it may add new features that expand the product's value, safety, or convenience. For instance, Sony keeps adding new styles and features to its Discman lines and Walkman, and Volvo adds new safety features to its cars. At last, the company may improve the product's styling and attractiveness. Therefore, car manufacturers restyle their cars to attract buyers who desire a new look. The makers of consumer household and food products introduce new ingredients flavours, colours, or packages to revitalize consumer buying.

At last, the company may try modifying the marketing mix improving sales by changing one or more marketing mix elements. It can cut prices to attract new users and competitors' customers. It can launch a superior advertising campaign or utilized aggressive sales promotions-cents- off, trade deals, premiums, and contests. The company may also move into larger market channels, by using mass merchandisers, if these channels are growing. At last, the company may offer new or improved services to buyers.