Latia is a popular fruit juice brand in the food and beverage market. Once the brand reaches the maturity stage of the product life-cycle, its growth rate begins to decline slowly. The company that owns the brand decides to adopt a market modification approach by increasing the consumption rate among its existing customers. Which of the following strategies is most likely to help the company achieve its goal?
-
Listing out reasons for potential customers to try Latia fruit juices
-
Advertising the benefits of drinking Latia fruit juices more than once a day
-
Making changes to the packaging of Latia products
-
Identifying new market segments and strategizing on the best ways to enter them
Best solution with expalnation