ENTREPRENEURIAL MARKETING
PROMOTION STRATEGIES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Growth
|
|
|
Introduction
|
|
|
Decline
|
|
|
Maturity
|
Detailed explanation-1: -Decline Stage: The decline stage of the product life cycle is the terminal stage where sales drop and production is ultimately halted. Profitability will fall, eventually to the point where it is no longer profitable to produce, and production will stop.
Detailed explanation-2: -Maturity Stage: During the maturity stage of the product life cycle, the sharp growth in sales begins to slow, and profits at the beginning of this stage decline.
Detailed explanation-3: -The decline stage is the last stage of the product life cycle. Businesses do not spend much on promotion in the decline stage. It is the stage at which the product is phased out. Critical Thinking Activity: Consider the stage of the life cycle for the product/service in your group work project.