QUESTION $3(20$ Marks$)$

Standard Bank is one of the largest financial services providers in South Africa, operating a wide range of banking and financial products and services. The bank has been in the industry for several decades and has achieved a dominant position in the market.

As the bank enters the mature stage of the industry life$-$cycle, the management team is exploring strategies to maintain its competitive advantage and continue its growth in the highly competitive market.

With this in mind, and using examples, suggests the strategies that Standard Bank should employ to sustain its success in the mature stage of the industry life$-$cycle.