When Shifts in Consumer Preferences Bring About an Absolute Slump

question 71

Multiple Choice

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

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Definitions:

Equilibrium

A state of balance or stability within a system, where competing forces or influences are equal.

Manifest Functions

The recognized and intended consequences of any social pattern, which are explicitly stated and understood by the participants in a social system.

Latent Functions

The unrecognized or unintended consequences of any social pattern, which may contribute to the functioning of a social system.

Marriage Ceremony

A formal event or ritual in which two individuals are united in marriage, characterized by cultural and religious practices.