Harvesting a declining product refers to gradually reducing marketing support in order to increase short- run profits.

Question

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Harvesting a declining product means companies reduce marketing support to increase profitability in the short term, typically when a product is near the end of its life cycle. This approach is often used when a product has lost market share, and the company is focused on maximizing profits before phasing it out.

Harvesting a Declining Product Refers to Gradually Reducing Marketing Support