In the decline stage of the industry life cycle,
A) the product may have reached obsolescence.
B) the industry will grow at a rate less than the overall economy.
C) the industry may experience negative growth.
D) the product may have reached obsolescence, and the industry will grow at a rate less than the overall economy.
E) the product may have reached obsolescence, the industry will grow at a rate less than the overall economy, and the industry may experience negative growth.

Question

Quizplus · Accepted Answer

In the decline stage of the industry life cycle, products often become obsolete due to advancements in technology or changes in consumer preferences. Additionally, the industry's growth rate falls below that of the overall economy, and it may even experience negative growth as demand for its products or services decreases.

In the Decline Stage of the Industry Life Cycle