Consumer tastes change; technology progressives, sometimes in highly disruptive ways; and competition evolves. In short, the world changes. One implication of such change is that products and services which may have once been successful become less so or even unnecessary and irrelevant. The challenge for businesses and their managers is how best to respond by modifying product offerings to effectively respond to such changes. Such responses can take five forms: reinvention, repositioning, rebranding, retrenching, or...
