While firms require systematic new-product planning strategies, they also need a comprehensive product deletion strategy that specifies the criteria for deletion, a timetable, and a budget.

Question

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A comprehensive product deletion strategy is essential for firms to manage their product portfolios effectively, ensuring resources are allocated to products that are profitable and align with the company's strategic goals, while phasing out those that do not. This strategy helps in optimizing the product mix and maintaining competitiveness.

While Firms Require Systematic New-Product Planning Strategies, They Also Need