Every company goes through stages where their products are becoming less popular and less attractive to consumers. Consultants have taught CEOs how to tweak products and target them to a different market where they would be more attractive. An article in the book called A life in the day of the Customer by Martin Lindstrom. He explains that the key to making product sales soar is to live with your customers. What he means by this is going out to research and evaluate the needs and wants of consumers and what they are looking for specifically. He says when he is hired by a company, he goes and lives with its target audience- eats, sleeps, and plays with them to take in all their preferences within different products. Up close and personal market research gives marketers a true and in depth look into how their customers live and helps companies give them exactly what they need. I think this is a good way companies can increase sales within products that have been out on the market for a while and need to be revitalized and fresh for them to become more attractive to consumers again.
Can you think of any products out on the market that have been out there for a while and have been renovated to become a more efficient, popular item to consumers?
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