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प्रश्न
Explain the decline stage of the product life cycle.
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उत्तर
During this stage, either the product is gradually replaced by better alternatives or consumer purchasing habits shift. Sales decline significantly, necessitating drastic reductions in promotional expenditure to minimize losses. The emphasis is on efficient distribution at the lowest cost. If no new applications are discovered for the product, sales may plummet, and it may eventually become obsolete.
The following strategies may be used to avoid a sharp decline in sales:
- Additional features may be added to the product.
- To revive the market, consider introducing economy pack models.
- New and attractive packaging may be used to attract customers.
- Selective promotion may be used to lower distribution costs.
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संबंधित प्रश्न
Which stage of the product life cycle is marked by falling costs and rising revenues?
The following are all major stages of a product life cycle except ______.
Typically profit is negative in which stage of the product life cycle?
Which stage of the Product Life Cycle is characterised by saturation in the market?
A high percentage of new products fail during this period of Product Life cycle:
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
“Pricing is fundamental to all marketing efforts.” Give two reasons either for or against.
Mention the various stages of ‘Product Life Cycle’.
Explain the abandonment stage of the product life cycle.
“Introduction Stage in a product life cycle is not very risky.” Justify either or against.
