Page 6: Injecting New Life Into The Artistry Life - Cycle
To prolong the life-cycle of a brand or product range, an organisation must inject new life into the growth period through readjusting the ingredients of the marketing mix.
In 1996, to ensure the Artistry range would stay in line with evolving market trends and tastes, Amway set about upgrading its brand with the additional objective of increasing its global competitiveness.
Amway engaged in world wide market research to gain a comprehensive understanding of the needs and wants of target markets. Market research is the systematic gathering, recording and analysing of data about positives and negatives relating to the marketing of goods and services.
Through acquiring a substantial know-ledge of each marketplace, the marketers could identify elements of the marketing mix which could be standardised, in addition to elements requiring change.