Marketing is a dynamic practice. While you are watching your competitors, they are watching you. Assume that you have just redesigned a product that is in the maturity phase of the product life cycle and have identified some new market segments. How do you think your competitors will respond?

Maturity Phase

A stage in the product life cycle where sales growth stabilizes, and the product is well established in the market, facing increased competition.

Market Segments

The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.