You do if you’re a business, non-profit or association manager with important external stakeholders whose behaviors affect your department, division or subsidiary the most.
Rethinking The Product Life Cycle: Brand And Segment Maturity For The Next Century
The product life cycle has been part of marketing strategy since the late 50’s. All of us are either intuitively or intellectually aware of its five stages of introduction, growth, maturity, saturation and decline. Yet, this classic model now faces the same inevitability it predicted for brands and market segments. We all face a new reality wherein everyone knows the model, emulates it, then with alarming regularity…fails. Failure comes from the predictability of the strategies that we all believed were dictated by the model. Over the past five years we’ve seen mature core brands suffocate under their own weight like lost, beached whales on the shores of EDLP (every day low price) Beach.