GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The product life cycle stage in which sales and profits fall rapidly.
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DECLINING STAGE
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INTRODUCTORY STAGE
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GROWTH STAGE
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MATURITY STAGE
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Explanation:
Detailed explanation-1: -Product sales begin to drop due to market saturation and alternative products, and the company may choose to not pursue additional marketing efforts as customers may already have determined whether they are loyal to the company’s products or not.
Detailed explanation-2: -For any product, its PLC will go to the decline stage, where the product’s sales and profits fall very quickly, and most competitors leave the market.
Detailed explanation-3: -Decline: This is the final stage of the product life cycle during which sales rapidly decrease as consumers flock to newer, more appealing products. Profits also dwindle during this phase until eventually, the product is discontinued entirely.
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