In which stage of the product life cycle would a firm most likely use price promotions and reminder advertising to encourage customers to replace worn-out items?

A) growth
B) decline
C) maturity
D) introduction

During the maturity stage, the market for the product becomes saturated, and competition increases. To encourage customers to replace worn-out items, a firm may use price promotions and reminder advertising to remind customers of their need to replace the product. Reminder advertising helps ensure that the product stays top-of-mind for customers, while price promotions can incentivize customers to choose one brand over another. In the decline stage, firms may decrease the amount of advertising and promotions as the market decreases, and in the growth stage, promotions may not be necessary as demand is already increasing.