If sales of a product falter during the maturity phase of the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product or modify the market.

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This statement is true. When sales of a product start to decline during the maturity phase of the product life cycle, companies can pursue different strategies to try to revive sales. Modifying the marketing mix (product, price, promotion, and distribution) can help to differentiate the product from competitors or change the perception of its value in the minds of consumers. Modifying the product itself can involve introducing new features, improving its quality, or changing its design to better meet the needs and preferences of consumers. Finally, modifying the market can involve expanding the target audience, finding new distribution channels, or entering new geographic markets where the product may have more demand.

If Sales of a Product Falter During the Maturity Phase