For those of you with our 2015 Calendar, you will have noticed that November is all about product strategy. More specifically, it’s about getting to know your product life cycle and ensuring a constant stream of new products are being released.
Do you know at which stage of their life cycles your products sit? Every product you sell has a life cycle. Make sure you know where you are on the life cycle and adjust your strategy accordingly.
As your products reach maturity and enter old age, you should think about rejuvenation. “New” is the most important word in the marketing vocabulary and a great goal to aim for is to have 30% of revenues generated from new products launched in the previous three years.
Want to learn more about the product life cycle and how to develop a new product strategy? Check out our latest article by clicking the link below.