Know-How Exchange : Strategy

A product is never in the maturity stage of its life cycle unless you think it is. I can’t think of a single product that cannot evolve based on learnings over time.

Combine that with the fact that demographics constantly change and there are bound to be users who are entering into something new for them even if the product has been around for ever.

Existing and mature users may appreciate enhancements that keeps the product relevant to them, and new and peripheral users may be waiting for that little tweak that will make it relevant for them.

Enhancing relevance has infinite potential to build brand equity.

Forgive me if this is too basic and general. Sure hope it helps. Good luck!

Depending on much more information from you, I could have mentioned many cases where I did just what you are asking about.
In the case of FMCG I have increased the brand equity of a multinational brand by redesigning the packaging, and according to the brand managing director, sales went up by 30%...it also helped that company sell the brand to another multinational firm for a handsome profit.
This is just one story, but I'm sure there are many other like it.
It all depends on your brand, what category it is in.
Kodak will not increase brand equity by selling more film...

depending on what your case scenario is, one way to look at this is, in simple terms, rejuvenating a brand. Rejuvenating and/or relaunching, horizontal expansion of relevant users, rekindling the current and past users by re introducing the brand with improvements or updates, could be as simple as packaging. As Rajiv states above, it is about tweaking relevance and finding new users. on the flip side, redefining the usage and actively expanding the target audience. good luck.

Many great FMCG brands are more than 100 years old and have been building brand equity the whole time - even where the product formulation has remained the same.

The brand needs to keep itself fresh and relevant - most tweak logos, messages, packaging and promotions at least every 2 years. In non-food categories, the product formulation is subject to continual innovation. Then they use their brand strength using brand awareness to increase distribution and to help retailers support higher prices and link this with their accumulated marketing expertise to improve category management at the point of sale. This gives them a distribution platform which allows for the sale and launch of other products reducing logistical costs. The volume and predictability and renown of the sales allows strong purchasing negotiations with suppliers.

there is a point that each company has to evaluate whether the cost of investment is worth the return. Each company places a different number value on this thought. You simply have to decide what your number is and stick to it. Above mentioned 30% gain sounds nice... but was the return what this particular company looks for? Apparently not... they sold the division while the gettin was good!