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Sales growth can be achieved in more than one way when dealing with mature low innovation markets. You can increase your sales by finding new uses for your product, by advertising more or by having a competitive advantage. A new use for your product will increase sales growth because you will be selling it for both its old purpose and its new purpose. So even though it is an old product, it will appear new to the customer and that is what customers want, something that appears new. Public relations can also help out if you choose this route because they can give old objects a new image.
The second way to increase sales would be to advertise more during an off season. Turkey sales are normally high during the holiday seasons of Thanksgiving and Christmas, after that they drop off till the next year rolls around. Advertising can help increase sales during those slower summer months. Commercials remind you that turkey can be grilled which is a major plus because normally sales are down in the summer because people don’t want to be in the kitchen cooking. Being outside to grill the product alleviates that problem.
Third, sales growth can be achieved by gaining market share. You can gain market share over your competitors by having a product with an advantage. Competitive advantages help you determine your position, share and territory which are all fought over in the marketplace. Since we’re dealing with low innovation products, speed is the best competitive advantage.
You need to get your product out there before the others. Introducing your product to the market early is very important. Since we’re dealing with mature low innovation, it’s hard to make your product any better than brands already out there, so being the first one out is a major plus. Although speed is your best competitive weapon, there are some other things that need to be kept in mind when releasing a new product.
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