Answer :
During the decline stage of the PLC, firms decide whether to maintain, harvest, or drop products.
The product life cycle (PLC) is a progression of stages that a product will experience throughout the course of its "lifetime" in terms of the earnings and sales it will generate. Although a PLC cannot be predicted with 100% accuracy, management can make educated assumptions and educated estimates. There are five phases in the PLC.
The decline stage is when a product has a sharp drop in sales and a persistent loss in profit that eventually results in its death. For many years, businesses might remain in the decline stage. A product enters the decline stage as a result of technological breakthroughs, greater competition, and changes in customer preferences.
Due to the expenditures paid in the decline stage, it is challenging for a product to reverse out of it once in it, though it is not impossible. A corporation must choose whether to drop, sustain, or harvest a product after it is in the decline stage. Dropping a product entails getting rid of it or selling it.
To learn more about product life cycle (PLC), refer
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