BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Introduction
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Growth
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Maturity
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Sales Decline
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Detailed explanation-1: -The decline stage in the product life cycle is when a product dissolves as a result of decreased or negative growth. It is a result of lower demand, which ultimately results from new inventions and technology advancements.
Detailed explanation-2: -The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.
Detailed explanation-3: -Toy manufacturers lacked innovative skills. For seven months, they expected children to mindlessly spend their lives twirling these devices on their fingers and eventually faced an absolute truth: children get bored. The Fidget Spinner didn’t live up to their expectations.