How to increase the life cycle of a product

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Its duration depends on market conditions and the characteristics of the product itself. There are methods to extend its existence and influence the course of development.

Modification and improvement . Optimizing product characteristics, improving quality, using new materials or technologies can have a positive effect on product performance.

Rebranding . It can be said that this is a physical therapist email list stage of the product life cycle where the main role is played by a strategy, competently built and implemented. An updated visual image of the brand helps to extend the life of the product on the market - and the product itself may remain the same, but users perceive it as something innovative.

New audience . Reorientation to another segment of the target audience, based on socio-demographic factors, interests and position, also helps to increase the lifespan of the product. For example, if your target group previously consisted of women over 35, you can switch to young mothers aged 25 to 35, while retaining old clients and adding new ones.

Change of positioning and communication strategy . A product known in one market can get a second life in another after its repositioning. This allows you to keep the product in the brand portfolio. Updated communication opens up new opportunities to attract attention to your offer.

Sales promotion . Events, promotions, discounts, sales, contests and marketing activities continue to be effective tools. Also, changing the pricing policy can play an important role in extending the life cycle of a product or service.

How to achieve multiple growth in traffic and sales from your website?
Alexey Boyarkin
Dmitry Svistunov
Head of SEO and Development
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I have always been concerned about the issue of moving to a fundamentally new level. So that the indicators would grow not by 2 or 3 times, but by several orders of magnitude. From a thousand visits to ten thousand or from ten thousand to a hundred thousand, if we are talking about a website, for example.

And I know that such leaps are always the result of painstaking work in five areas:

Technical condition of the site.
SEO.
Collection of site semantics.
Creating useful content.
Working on conversion.
And at the same time, every manager needs an increase in sales and the number of applications from the site at the moment.

To get this growth, download our step-by-step template for increasing sales from the site:
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Advantages and Disadvantages of Product Life Cycle Theory
The product life cycle theory is used by companies when formulating product policies. It provides the following advantages:

systematizes the process of creation, development and launch of new products;

helps managers improve production and make smart changes to the product range;

allows you to evaluate the effectiveness of current products in comparison with previous versions;

helps to determine the real competitiveness of the company's products.

However, this concept also has some disadvantages:

the forms and stages of the life cycle may differ for each specific case, which makes general conclusions not very reliable;

it can be difficult to determine exactly what stage a particular product is at;

Effective completion of all stages requires a clearly developed marketing strategy.