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Yes firms with mature products can reinvent themselves. Most products are in the maturity stage of the life cycle and it is this stage that poses the biggest obstacles to marketing managers. There are a number of ways a company can reinvent themselves in this stage: offer a new product or service dimension expanding the boundaries of an existing category; offer a new product or set of products from an existing category; devise a way to bundle existing categories into a subcategory; reposition existing products or services to create an original category; propel a new product category or sub category based on customer needs; develop a product category or subcategory based on technological advancements; and/or invent a new category by exploiting changing technology. There are also three potentially useful ways to change the course for a brand -- market, product and marketing program modifications.
An example of a successful re-invention is Apple’s ipod. There were many mp3 players......

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Approximate Word Count: 383
Approximate Pages: 2 (250 words per double-spaced page)

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