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 interminology. For manufacturers, a new type of product--with highdemand and no competitors--will allow premium pricing. An oldwar-horse--with established popularity, no start-up costs and norequirement for ongoing promotion--will allow moderate pricing toproduce a steady profit stream (the much-admired "cashcow"). This principle also applies to services or novelwrinkles on established services to maintain interest andprices.
Excerpted from Knock-Out Marketing: Powerful Strategies to PunchUp Your Sales
