As a leader in Sales company , what to do when your product reached the end of its life cycle ?

I would go with remodeling and a new marketing campaign based on the new remodeled product using the old product strong points as a base for the new remodeled product marketing campaign.

Typical tactics designed to extend the maturity phase include:

• Increasing the amount of the product used by existing customers (this is why food producers issue recipe cards that use their ingredients).
• Adding or updating product features.
• Price promotions to attract customers who use a rival brand.
• Advertising to encourage trial of the product people who don't use this category of product at all.

The market represent people and their expectations are keep changing rapidly due to technology is advancing. The planned life cycle of a product may experiences prematured time or meet the end faster than the planned. Therefore, re-engineering is a must when life cycle meets the end.

. most products go through this life cycle consisting of four stages

1. introduction

2. growth

3.maturity

4. decline

the product life cycle is a theoretical model of what happens to sales and profits for a product class over time . however , not all products follow the life cycle , and particular brands may act differently

so we can do some points to to solve this problem , such as

1. cut product mix ; develop new product ideas

2. consider price increase

3. consolidate distribution ; drop some outlets

4. reduce advertising to only loyal customers 

change design or enter some effect on ur products make adv. and promotion 

Commonly in such situation the better  concept is  carefully implement Business process innovation. 

you can upgrade/recycle it under new name and selling it  vs your old one !! 

Agree with the experts answer. Thanks.

When a product has reached end of its life either to replace with a new product or find new market for the same product.

Thanks I amagree with my colleague’s answer

At this stage it might be too late to stay as a market leader with this product. It would be like trying to use life support system for a terminal illness. That's why sales leaders are visionary and blue ocean thinkers. They don't take reactive actions to fire fight sales drops. They take the lead and make sure they are continuously ahead of the game by both their innovative product features and relationship with their clients.