It is essential to identify reasons for declining demand at __________ of the product life cycle Growth stage Entry stage Maturity stage Decline stage
Question
It is essential to identify reasons for declining demand at __________ of the product life cycle
- Growth stage
- Entry stage
- Maturity stage
- Decline stage
Solution
The stage of the product life cycle where it is essential to identify reasons for declining demand is the Maturity stage.
Here's why:
-
Growth Stage: At this stage, the product is experiencing increasing demand and rapid sales growth. Therefore, declining demand is not typically a concern.
-
Entry Stage: This is when the product is introduced to the market. While it's important to monitor demand, a decline is not expected as the product is still new and gaining exposure.
-
Maturity Stage: This is when sales have peaked and are starting to plateau or even decline. It's at this stage that it becomes crucial to identify reasons for declining demand in order
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