Any business, whether product or service has a lifecycle. It is very important not to wait until it runs out, but make it a facelift in time. Experts do not agree on when is the best. There are those who believe that a business must always be reinventing, because consumer tastes are constantly changing. Others, however, advised to be cautious and meditate well. How often to do the restyling depends on two factors: - Type of our target audience, more or less likely to change.
- Sector of activity in which we operate. For example, the pharmaceutical industry plans its innovations with 20 year term, textiles with 6 months, the food and perfume continuously, and the car in 18 months.
In general, all experts agree that they should not spend more than five years without adding any changes to our product or service, except that our brand of so-called untouchables , in which case you must increase the value of classic, and leave innovation to our lower-end products.
Occasionally, the company leader in that marks the time of the restyling of the others, changes in its own brand and can not afford to be left behind.
There are, however, a series of clear indicators:
- Though continue to sell well, the design of our offer starts to become obsolete for the taste of our customers
- Sales slow
- Competition moves
- The sector is growing at a slower pace than the market
- Distributors say that the product will no longer have the same output
Ultimately, we must be alert. If your brand works well, do not touch, but at least sign, put up its restyling before it's too late.
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