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? Group of answer choices find new market segments for the brand improve the overall quality of the product reduce mass media advertising expenses offer improved services to new buyers conduct controlled test marketing activities

Question

Cummings

Business

13 November, 18:08

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? Group of answer choices find new market segments for the brand improve the overall quality of the product reduce mass media advertising expenses offer improved services to new buyers conduct controlled test marketing activities

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Answers (1)

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Parker Goodman · Answer 1

Find new market segments for the brand

Explanation:

Maturity of a product is that stage of a product where it has achieved the maximum sales that it can and now it will gradually go down the sales graph.

This can happen due to several reasons, mostly due to the change in market demand. When a company comes face to face to such a challenge, they should start looking into other markets where their product might be introduced. Or start presenting their products in different categories to extract more sales.