Discuss ways and Methods to extend Maturity stage of ‘VIM’ Dish Washing Soap.

As a Marketing Manager –
As a Marketing Manager, there are several ways and methods to extend the maturity stage of VIM dishwashing soap. Here are some strategies that can be implemented:
Expand the product line:
One way to extend the maturity stage of VIM is to expand the product line. This could involve introducing new scents or variations of the original product, such as a concentrated formula, a foam formula, or a gel formula. This can help to attract new customers and retain existing ones.
Rebranding and packaging:
Rebranding and packaging can help to give the product a fresh look and appeal to new consumers. This could involve redesigning the logo, changing the packaging or label, or creating new advertising campaigns that focus on the product’s benefits and features.
Promotional activities:
Promotional activities can be an effective way to extend the maturity stage of VIM. This could include offering discounts or coupons, providing free samples, or creating a loyalty program to incentivize repeat purchases. Other promotional activities could include sponsoring events or partnering with influencers to reach new audiences.
Focus on sustainability:
Consumers are becoming increasingly concerned about sustainability, and promoting the environmental benefits of VIM can help to attract new customers and retain existing ones. This could involve highlighting the product’s biodegradability, reducing packaging waste, or using eco-friendly materials in production.
Target new markets:
Expanding into new markets can help to extend the maturity stage of VIM. This could involve targeting new demographic groups or expanding geographically.
For example, targeting a younger demographic group or expanding into emerging markets where the demand for dishwashing soap is high could help to extend the product’s lifecycle.
Overall, implementing these strategies can help to extend the maturity stage of VIM dishwashing soap and maintain its market position. It is important to conduct market research to understand the needs and preferences of consumers and to tailor these strategies accordingly.