What steps should be taken to promote sales of a declining product?

every product have a life cycle and after a certain point the product becomes obslete or comes to  the  verge of being forced out of market which can be delayed for certain time span(b'coz its an irreversible phenomenon of market).first of all company should make harvesting calls to eliminte extraneous cost it can be done in terms of cutting down on sales force,storage or shift in feedback mechanism,et al.if company is equipped with surplus funds then it can revamp its product which can be done by either changing mode of packging or introduce it with new attitude.foremost,a committe should  be formed in order figure out the required action plan which should consist of members coming from all departments and research personnel and this committe should be  left alone to carry out their task and make necessary recommendations.

In my opinion, a product needs to be changed with the current development of the environment. Keep with the track of the competitors and change the products according to the need of people. Thus the product will feel its freshness in the market and selling becomes easier when there is demand.

We all know, the word processor ensured the demise of the typewriter, and voice messaging has changed the way people use the telephone. While your product line may not have the same global impact these developments have, changes in technology will always affect your business. Isn't it better to lead the way than to react to events? Use the latest strategies of sale promotions and innovate new ideas for selling.

Decline clearly means that the BRAND HYGIENE has not been taken care of by the brand custodian!! The brand and hence the product needs to have the capability to innovate, undergo a change and then have the capacity to link its earlier success to relaunch itself with the face lift!!

Research is extremely important here. This should be conducted with the existing consumers and also the competition consumers to understand where the brnad / product had lost its space to competition. Once the analysis is done then the R&D would decide the areas of improvement and would pass the same for implementation. It is equally important to test the improved product with a bunch of the TG demography and then get the agency to revamp the product / brand for a rel;aunch!!

This process has to work provided the brand / product has the hygiene for self improvement and to undergo the knife of surgery!!! Interesting ideation! 

• Anticipate changes in environment/demand
• Resell with different approach and pitch.
• Modify a bit if required
• Suggest change at last-could cost you your job since you are hired to sell anyhow whatever company produces.

Yes, customer is the king. If you want your customers to keep buying from you, you have to let them know you'll be there to fulfil their changing requirements. Customers have a way of not knowing exactly what they want. When they finally make their choice, they will go with the supplier who is there with the right product at the right time.