One example of a company that successfully renewed customer interest during the transitional period of their product lifecycle is Apple Inc. When the sales of their flagship product, the iPhone, started to plateau, Apple introduced a series of new services like Apple Music, Apple TV+, and Apple Arcade. These services not only renewed interest in Apple's ecosystem but also tapped into new markets, thereby ensuring continued growth for the company.
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How to introduce a new product to the most promising market? With a solid go to market strategy on deck, make sure the resources and hard work spent o...
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A solid go to market plan is more than just attractive product offerings; it also extends the growth horizon all the way to post-sales tactics. In most cases, products generate higher business value from introduction to growth, to maturity. After hitting market saturation, it usually plummets into oblivion. On the other hand, for teams that are always seeing around the corners and strategizing for the next big move, there can actually be renewed growth. This transitional period is critical to either renew customer interest or tap into a new market.(Slide 29)
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