Parvon, a cleaning product, is in the maturity stage of the product life cycle, and Parvon managers have decided to modify the market. Which of the following steps should Parvon managers most likely take to achieve this goal?
A) find new market segments for the brand
B) improve the overall quality of the product
C) reduce mass media advertising expenses
D) offer improved services to new buyers
E) conduct controlled test marketing activities

Question

Quizplus · Accepted Answer

In the maturity stage of the product life cycle, the focus is on finding new market segments for the brand. This is because the product has already reached its peak in terms of sales and there is limited potential for growth within its existing market. By identifying and targeting new market segments, Parvon can sustain its sales and potentially increase them. Improving the quality of the product, reducing advertising expenses, offering improved services to new buyers, and conducting controlled test marketing activities may also be useful strategies, but they are not the most appropriate steps to achieve the goal of modifying the market in the maturity stage.

Parvon, a Cleaning Product, Is in the Maturity Stage of the Product