Firms using the __________ approach during the decline stage of the product life cycle will gradually reduce marketing expenditures and use a less resource-intensive marketing mix.

A) divesting
B) harvesting
C) repositioning
D) life extending
E) balanced

Harvesting Approach

A business strategy focusing on extracting maximum profits from a product, market, or investment with minimal reinvestment, often in the decline stage of its lifecycle.

Marketing Expenditures

The total amount of money a company spends on creating and executing its marketing strategies.

Resource-intensive

Describing activities, processes, or industries that require a large amount of resources (such as capital, time, or energy) to produce goods or services.