The final stage in the product life cycle (after the introductory stage, growth stage and maturity stage) when sales are decreasing due to the original customer needs and wants have declined or because another rival product has been introduced.
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Decline Stage
Related terms
Product attributes, Variable, Concept development and testing, Focus groups, Audit, Incremental cost-effectiveness ratio (ICER), One to one marketing (1:1 marketing), Risk-benefit analysis, License agreement, Accredited programmes, Syndicated market research data, Narrowcasting, Management by objectives (MBO), Customer lifetime value (CLV), Intrapreneurship,