When shifts in consumer preferences bring about an absolute slump in industry sales,a product is said to be in the _____ stage of the product lifecycle.
A)introductory
B)growth
C)maturation
D)decline

Question

Quizplus · Accepted Answer

When shifts in consumer preferences bring about an absolute slump in industry sales, it indicates that the product has reached the decline stage of the product lifecycle. This is the stage where the product has outlived its usefulness, and newer and better products have replaced it. Companies may have to either revamp the product or discontinue it altogether.

When Shifts in Consumer Preferences Bring About an Absolute Slump