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Product modification strategy

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    bebeto
    Posted 1 year ago

    One of the possible strategies that a company may adopt for its mature products, which are facing slow down in sales. Under this strategy a company may do number of things.

    These include:
    (1) Changing characteristics such as quality, features, or style to attract new users and to inspire more usage.
    (2) Improving the product’s quality and performance—its durability, reliability, speed, or taste.
    (3) Adding new features that expand the product’s usefulness, safety, or convenience, and (4) Improving product’s styling and attractiveness.

      bob
      Posted 1 year ago

      What is this Product strategy?

        zoho
        Posted 1 year ago

        When a company is facing a decrease in selling of its products then it can use this kind of strategy and do a number of things according to it.
        1/ Drastically change product characteristics like main features and product style in order to get the attention of new groups of users and perhaps to elicit new usages.
        2/ Improving product features concerning its performance and quality like its taste, speed or reliability.
        3/ Making the product more useful and convenient by adding new characteristics.
        4/ Improving product appearance and making it more stylish and attractive.

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