A retailer primarily appeals to the lowest income consumers and laggards in which stage of the product life cycle?

Question

Quizplus · Accepted Answer

The lowest income consumers and laggards are the last to adopt a new product and are typically found in the decline stage of the product life cycle. At this point, sales have peaked and are beginning to decline, and the focus shifts to maintaining profitability rather than growth. Retailers targeting this group may offer deep discounts or promotions to attract customers, as they may not have the financial resources to purchase products at full price.

A Retailer Primarily Appeals to the Lowest Income Consumers and Laggards