When a product reaches the decline phase of its life cycle, it should be automatically dropped.

Question

Quizplus · Accepted Answer

While it may be tempting to drop a product in the decline phase, there can still be opportunities to generate profit through cost-cutting measures or targeting a niche market. Additionally, discontinued products may still have value in the form of intellectual property or as a potential source of revenue through partnerships or licensing agreements. Therefore, a company should consider all options before deciding to drop a product in the decline phase.

When a Product Reaches the Decline Phase of Its Life