How to act when a product or service goes into decline?

[Aklima@42]

Most products and services experience a drop in sales or a loss of market strength at some point in their existence. We cannot assume that consumer tastes or preferences are invariable, which is why it is so important to diversify our offering and prepare ourselves to face the phases of decline of what are today our star products.

This decline may come slowly and gradually or as clinics email list a sudden blow, caused by the entry of competition, radical changes in the market, technological advances, changes in import conditions, pricing policies, fads fads… in any case, it is very likely that the time will come to ask ourselves: “ How should I act when faced with a product in decline? ”

Is this really a product in decline?
We should never consider that a product is in decline for mere sentimental reasons (easy to bring to light when it comes to products that have driven the company in its origins) or "gut feelings", nor for occasional drops caused by the season or by the occasional comparison of results with those of last year.



We must have a well-organized marketing department so that those responsible for it can determine the status of market share, the evolution of the competition, sales profitability, commercial results (in this we can rely on accounting data), etc.