Marketing MBA BBA

Decline stage of product life cycle

IT chymes .
@ | Posted 21 Sep. 2017

This is the phase when sales decline because customer preferences have changed in favour of more efficient and better products. The number of competing firms also gets reduced and generally the industry now has limited product versions available to the customer. This stage is characterised by:

  • A drastic reduction in sales
  • Decline in profits
  • Exit of the product from the market.