At the declining stage of a product life cycle, new customers are attracted and the firm is on a steady growth to achieve innovative success.

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At the declining stage of a product life cycle, the product has already reached its peak and is now losing market share, resulting in declining sales and profits. The focus is generally on reducing costs and maximizing the remaining profits rather than attracting new customers. The firm may eventually decide to discontinue the product or re-launch it with new features or a new marketing strategy, but this does not necessarily guarantee innovative success.

At the Declining Stage of a Product Life Cycle, New