Advertisements
Advertisements
Question
In which stage of product life cycle, the company takes decision whether to maintain, harvest or drop the product?
Options
Introduction
Growth
Maturity
Decline
Advertisements
Solution
Decline
Explanation:
In the decline stage of the product life cycle, sales and profits begin to fall as the product loses market appeal due to factors such as market saturation, technological advancements, or changing consumer preferences. At this point, companies must decide whether to maintain the product by finding new uses or markets, harvest it by reducing costs and continuing to sell as long as possible or drop it all together by discontinuing the product.
APPEARS IN
RELATED QUESTIONS
The following are all major stages of a product life cycle except ______.
Typically profit is negative in which stage of the product life cycle?
Choose the correct sequence of the Product Life Cycle.
AB Visions Ltd. want to introduce a new variety of reading glasses where the vision can be adjusted according to the user’s requirement. Explain the first two stages in the life cycle of this product.
What happens to a product in the decline stage of its life cycle?
“Pricing is fundamental to all marketing efforts.” Give two reasons either for or against.
Explain the maturity stage of the product life cycle.
Explain the strategies to be adopted during the introduction stage of Product Life Cycle.
Explain the second stage of product life cycle.
“Introduction Stage in a product life cycle is not very risky.” Justify either or against.
