Global Success and Failure of Matured Product Management: Theoretical Evidence from Developing Economies

Abstract

Over the past years, matured product management has a global issue among international players. Matured product management has become a matter of considerable importance due to the large number of product that is available in the market place and the fierce competition that is being experienced. Product life span is short-lived as a result of competitors’ actions without recouping its initial capital investment and most of the products die at its maturity stage. The paper focuses on presenting the applications of marketing strategies on matured product management and the key areas that the management effort can be focused on so as to ensure sustainable product life cycle management, most especially for products at its maturity stage. It was ascertained that Marketers usually try to extend each stage of the life cycles for their products as long as possible. Product life cycles can stretch indefinitely as a result of strategic decisions designed to increase the frequency of use by current customers, increase the number of users for the product, and find new uses, or change package sizes, labels or product quality. Organizations should not ignore or passively defend aging products. A good offence is the best defense. Marketing and management professionals should systematically consider marketing strategies, product and marketing-mix modifications. Limitations and suggestions for further studies were given.

Keywords: Matured Product, Competitive Advantage, Branding, Product Life Cycle.