Which of the following statements about the decline stage of the product life cycle is most accurate?

Question

Quizplus · Accepted Answer

The decline stage of the product life cycle is often the result of changes in the marketing environment, such as shifts in consumer preferences, introduction of new technologies or competitors, or changes in regulations. Sales and profits both decline during this stage, as the market for the product shrinks. Increasing marketing expenditures may help to extend the product's life cycle, but it is not the only option, and may not always be effective. Service industries are not exempt from the decline stage, as they too can face changes in the market that result in declining demand for their offerings. Option A is inaccurate, as profits generally decline along with sales in the decline stage. Option B is not necessarily true, as various factors can lead to product decline. Option E is also incorrect, as service industries can experience declining demand and profitability.

Which of the Following Statements About the Decline Stage of the Product