Marketing strategy for product in decline stage of PLC

Growth depends somewhat on market but largely on strategy.

Market itself is evident that if the one adopt wrong strategy then fall is inevitable. Decline never happens in one day. It always happen in stages. But if one identify the stage of the downfall and correct its strategy then the chances of big growth is always there.

Lets take example of the organisation working in very competitive growing market. Company has done pricing of one of its product A ( contributes 30% to the total sale of the organisation) by benchmarking the pricing of the established product B. They reduce their price of product A 40% w.r.t. product B and got good growth. Later growth came month after month. Now company got the feeling that their Product A is beating product B in the market and got feeling that they became leader. But as per the market situation the product A has to be stabilised and get the level of creating PULL in the market. Now comapny reduced the gap amongst Product A and product B of competition by 30%. In one day it gone higher than that of product B.This move became a turning point for the product A and started degrowing as the price difference has to be reduced slowly and slowly as per the apetite of the market.

So one always sdopt the right strategy so as to get the sustainable growth even in decline satge also.Because its not the tool that works its a strategy to correctly and effectively use of the tool that works.