Visa inc. has been in the market for many years so we can consider that it is in the maturity stage of product life cycle. Therefore the possible strategies that the firm can do are entering to the new market or develop the new product.
In this stage, the strong growth in sales by the company is diminishing. At this stage of the product life cycle the competition may appear with similar products like MasterCard. The primary objective that a company should focus on when at this stage of the product life cycle is to defend its market share and try to maximize it profits. At this stage also, the features of its products might be enhanced or the company might try to implement other products in order to create a stiff competition for its competitors. For instance, the company has introduced a new type of credit card or debit card that targets its benefit for customers.