Decline stage is the final stage, of the four stages of product life cycle. All products follow the four stage curve. Through marketing we intend to elongate the pre decline phases.
Decline happens due to the following factors:
The following can be done with a product in decline stage:
- Finding other use of product: For example: Dettol is used not just as antiseptic in hospitals, now it is promoted to use Dettol in everyday cleaning of homes.
- Reducing cost of product to revive it
- Discontinue the product