ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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-sales are going down-product has not been generating profit-product needs to be pulled out from the marketThis stage is called ____ in the Product Life Cycle.
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Decline
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Growth
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Saturation
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Introduction
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Explanation:
Detailed explanation-1: -Phase 1 – A new retailer with a relatively low reputation offers its items and services at a low price to attract customers and build a client base. Phase 2 – As the company gains traction, they upgrade their facilities and gradually start increasing their prices.
Detailed explanation-2: -The wheel of retailing suggests that retailing is constantly evolving as new entrants disrupt the market and established retailers try to differentiate themselves. The retail life-cycle concept suggests that retailers go through predictable stages as they grow and mature.
There is 1 question to complete.