BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -When a product is in the decline stage, the sales drop due to a change in consumer behaviour and demand. The product loses its market share and competition also deteriorates. Eventually, the product retires from the market.

Detailed explanation-2: -the final stage of the product life cycle (after introductory stage, growth stage and maturity stage) when sales are dropping because the original need and want have diminished or because another product innovation has been introduced.

Detailed explanation-3: -Products enter the decline stage when consumer appeal and sales drift downward. This happens every day: consumers get bored, markets are oversaturated, or a newer, better product is introduced that eclipses its predecessors. It’s important to remember that not every product will necessarily face a decline stage.

Detailed explanation-4: -What is a product life cycle? The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline.