Log in or sign up to add this lesson to a Custom Course. Log in or Sign up. During the growth stage of the industry life cycle, firms can enjoy increasing market shares, growing profits, and strong consumer demand. The growth stage may be a fury of activity that lasts a few months, as is the case with fads, or it can be based on more measured growth that lasts for years, like with personal computers. However, no industry is in the growth stage forever.
At some point, a product will hit peak sales and its growth rate will start to slow down when new, better and cheaper products enter the market and customers start switching their allegiance. Without intervention, there's a risk that sales will stagnate or decrease due to market saturation. This fate is not inevitable, however.
A key challenge to growing your publishing firm is to find new paths to greater revenue by building upon your core strengths without making a radical shift in the way you currently do business. There are ways in which you can build a steady flow of revenue and profits to help your business reach significant long-term value as you expand your comfort zone. Here are nine strategies for increasing your sales, revenue and profits using existing or sometimes new content in current markets, growth markets, and new, "Frontier" markets.