Question

WexAll Industries has seen demand for its RB37 start to slow down. In addition, the number of other companies producing a similar product has started to go down as well, and there have not been any new entrants into this market. The RB37 is most likely in the _____ stage of the product life cycle.

Answer 1

Answer:

The RB37 is most likely in the decline stage of the product life cycle

Explanation:

The decline stage of the product life cycle is associated with decreasing revenue due to market saturation, high competition, and changing customer needs. Companies at this stage have several options: They can choose to discontinue the product, sell the manufacturing rights to another business that can better compete or maintain the product by adding new features, finding new uses for the product, or tap into new markets through exporting. This is the stage where packaging will often announce “new and improved.”