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Question
Explain the decline stage of the product life cycle.
Solution
- This stage is characterised by either the product's gradual displacement by new and superior products or change in consumer's buying behaviour. Sales fall down sharply and promotional expenditure has to be reduced drastically to minimise loss.
- The emphasis is on efficient distribution at lowest cost. Unless new uses of the product are found the sales may decline rapidly and the product may soon go out of the market.
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