You have been assigned the overwhelming task of managing all your firm's products in the decline stage.Which of the following steps are you least likely to take?
A)develop strategies to increase how frequently the product is used
B)develop strategies to identify a new target market and/or new customers
C)develop an aggressive, resource-intensive marketing mix for products in the decline stage
D)develop rebranding strategies and identify new ways to make the products more appealing
E)develop a social media campaign that will excite current customers and induce them to buy more of these products

Question

You have been assigned the overwhelming task of managing all your firm's products in the decline stage.Which of the following steps are you least likely to take?​
A)​develop strategies to increase how frequently the product is used
B)​develop strategies to identify a new target market and/or new customers
C)​develop an aggressive, resource-intensive marketing mix for products in the decline stage
D)​develop rebranding strategies and identify new ways to make the products more appealing
E)​develop a social media campaign that will excite current customers and induce them to buy more of these products

Quizplus · Accepted Answer

Developing an aggressive, resource-intensive marketing mix for products in the decline stage is least likely to be done. This is because the product is in the decline stage, which means it is losing market share and profitability. Investing a significant amount of resources into marketing at this stage may not be cost-effective and may not result in a significant increase in sales. Instead, the focus should be on developing strategies to minimize costs and maximize profits before eventually phasing out the product.

You Have Been Assigned the Overwhelming Task of Managing All