To Handle Products in the Decline Stage of the Product

question 157

Multiple Choice

To handle products in the decline stage of the product life cycle,companies often use either:

• A)diversification or building.
• B)harvesting or contracting.
• C)deletion or harvesting.
• D)deletion or diversification.

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Definitions:

Marketing Goals

Specified objectives that a company aims to achieve through its marketing efforts, which guide marketing strategies and actions.

Operational Excellence

A philosophy of the workplace where problem-solving, teamwork, and leadership results in the ongoing improvement in an organization.

Product Leadership

A competitive strategy focusing on developing and marketing superior products or services that offer unique features or capabilities.

Competitive Advantage Strategies

Plans and actions taken by a company to ensure it has a unique position in the market, outperforming competitors or offering unique value to customers.