The terminal phase of the product lifecycle is known as the **Decline Stage**. During this stage, the following key characteristics are observed:

1. **Decreased Sales**: Sales begin to decline as the product reaches market saturation or faces obsolescence due to newer technologies or changing consumer preferences.

2. **Reduced Profits**: As sales decrease, profits typically follow suit. Companies may experience diminishing returns on their investment in marketing or production.

3. **Market Exit**: Some companies may choose to discontinue the product entirely, while others might opt to sell off remaining inventory at discounted prices.

4. **Focus on Cost Reduction**: In an effort to maintain profitability, companies often streamline operations and reduce production costs during this phase.

In summary, the decline stage signifies the end of a product's lifecycle, compelling businesses to assess their product portfolio and make critical strategic decisions regarding future directions, product innovations, or possibly exiting the market altogether.

Question

The terminal phase of the product lifecycle is known as the **Decline Stage**. During this stage, the following key characteristics are observed:

1. **Decreased Sales**: Sales begin to decline as the product reaches market saturation or faces obsolescence due to newer technologies or changing consumer preferences.

2. **Reduced Profits**: As sales decrease, profits typically follow suit. Companies may experience diminishing returns on their investment in marketing or production.

3. **Market Exit**: Some companies may choose to discontinue the product entirely, while others might opt to sell off remaining inventory at discounted prices.

4. **Focus on Cost Reduction**: In an effort to maintain profitability, companies often streamline operations and reduce production costs during this phase.

In summary, the decline stage signifies the end of a product's lifecycle, compelling businesses to assess their product portfolio and make critical strategic decisions regarding future directions, product innovations, or possibly exiting the market altogether.

Knowee AI · Accepted Answer

The terminal phase of the product lifecycle is known as the **Decline Stage**. During this stage, the following key characteristics are observed:

1. **Decreased Sales**: Sales begin to decline as the product reaches market saturation or faces obsolescence due to newer technologies or changing consumer preferences.

2. **Reduced Profits**: As sales decrease, profits typically follow suit. Companies may experience diminishing returns on their investment in marketing or production.

3. **Market Exit**: Some companies may choose to discontinue the product entirely, while others might opt to sell off remaining inventory at discounted prices.

4. **Focus on Cost Reduction**: In an effort to maintain profitability, companies often streamline operations and reduce production costs during this phase.

In summary, the decline stage signifies the end of a product's lifecycle, compelling businesses to assess their product portfolio and make critical strategic decisions regarding future directions, product innovations, or possibly exiting the market altogether.

Product lifecycle is a concept that determines the future of a company’s business. The last or the terminal phase of the cycle is:

Question

Product lifecycle is a concept that determines the future of a company’s business. The last or the terminal phase of the cycle is:

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