Sales and profits of your company's product are falling. New products are entering the market and there seems to be little interest in your current product. Which stage of the product life cycle has your product now reached?

Question

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describe the product life cycle, new product development and the product adoption process. The product life cycle has five stages: 1. new product development, 2. introduction, 3. growth, 4. maturity, 5. decline. The decline stage sees sales and profits fall.

Sales and Profits of Your Company's Product Are Falling