Cooper Inc.has been involved in intensive price competition with one of its products.Profits are low and market researchers are concerned that losses will soon occur due to a reduced market for the item.This product has reached the _____ stage of the product life cycle.

Question

Quizplus · Accepted Answer

The given scenario indicates that the product is facing a reduction in demand due to intense price competition, resulting in low profits and potential losses. These are typical characteristics of products in the decline stage of the product life cycle, where sales and profitability decrease as the market becomes saturated and consumers shift to newer products or alternatives.