Question – 1 5 marks (200-250 words)
Some products remain in the maturity stage of the PLC for long period of time, whereas others pass through quickly. List and explain briefly three possible conditions that may allow a product to remain in the maturity stage for a long period of time
1. Improving certain features to help resell the product: an instance is where a car company can include new allow rims or colors to attract the customer.
2. Lowering prices so as to counter competitors in the market: this can entail attributes of promotion where discounts are given to ensure loyalty among clients.
3. Differentiation strategies, with the hope that the new client will start to purchase the commodity.