Cost minimization is an appropriate strategy in which stage of the product life cycle?
A) introduction
B) growth
C) adolescence
D) decline
E) retirement

Question

Quizplus · Accepted Answer

Cost minimization is an appropriate strategy in the decline stage of the product life cycle because the demand is decreasing and the product is becoming less profitable. Therefore, the company needs to reduce costs to maintain profitability and possibly extend the product's life cycle. In the other stages, the emphasis is on growth and expansion rather than cost reduction.

Cost Minimization Is an Appropriate Strategy in Which Stage of the Product