In the decline phase of the product life cycle, if a firm "milks" the firm's investment to recover cash quickly, it is using a strategy called

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The strategy of "milking" a product in its decline phase to recover cash quickly is known as harvesting. The goal is to generate as much profit as possible while minimizing further investment in the product. This can involve cutting costs, reducing marketing efforts, and charging higher prices to loyal customers. Harvesting can be a useful strategy for companies that have limited resources or are facing intense competition in the market.

In the Decline Phase of the Product Life Cycle, If