Asked by Carrie Steel on May 09, 2024
Verified
Which of the following is inconsistent with a product in its decline stage?
A) Producers are beginning to leave the industry.
B) Prices begin to decline sharply.
C) Few changes occur in the product features.
D) Promotion activities are kept to a minimum.
Decline Stage
A phase in the product lifecycle or business where sales begin to fall due to market saturation, technological obsolescence, or changing consumer preferences.
Promotion Activities
Marketing efforts designed to increase awareness, interest, and sales of a product or service through various strategies such as advertising, discounts, and events.
Industry
A group of companies or businesses that produce or supply goods, services, or sources of income within a similar sector.
- Familiarize oneself with the concept of the product life cycle and its sequential stages.
Verified Answer
Learning Objectives
- Familiarize oneself with the concept of the product life cycle and its sequential stages.
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