A strategy of harvesting may be employed in the decline stage of a product life to:

Question

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In the decline stage of a product life cycle, sales and profits decrease, and the focus shifts to maintaining customer satisfaction and meeting their requests with minimum expenditure. Harvesting strategy helps the company to maximize profitability by reducing costs while maintaining production to serve existing customers. Therefore, harvesting strategy is employed to maintain the ability to meet customers' requests.

A Strategy of Harvesting May Be Employed in the Decline