Lengthen Your Product's Life Cycle

Adjust your terminology to get new life out of your product.

No service can afford to do the same old things year after year, though sometimes this innovation amounts to just a change in terminology. For manufacturers, a new type of product--with high demand and no competitors--will allow premium pricing. An old war-horse--with established popularity, no start-up costs and no requirement for ongoing promotion--will allow moderate pricing to produce a steady profit stream (the much-admired "cash cow"). This principle also applies to services or novel wrinkles on established services to maintain interest and prices.

Excerpted from Knock-Out Marketing: Powerful Strategies to Punch Up Your Sales

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