It depends on the reason it is in decline. Consider the auto industry, they have done pretty terrible at handling the decline in fuel supply. It is simply bad business to refuse to innovate to make the product fit the market. Then consider Motorola, there was a point at which the pager was their largest revenue resource, then texting was introduced. It is most important to look at the issue from as many angles as possible. Should the product change, die, or will the market always be there and this is just a rough patch?
The VCR player is an example.
Decline or rebirth stage
There are four main stages of a product life cycle. After the product is developed there is the introduction stage, the growth stage, the maturity stage and the final stage is the decline.
maturity and decline stage
It tells about the introduction stage till the decline stage
The product life cycle of Reynolds pens consists of the introduction stage, growth stage, maturity stage, and decline stage. In the introduction stage, the pens are launched into the market. During the growth stage, sales and awareness of the pens increase. The maturity stage is characterized by stable sales, and in the decline stage, sales start to decrease as the product becomes outdated or faces competition from newer products.
The Product is actually in saturation stage ie between maturity and decline
Advertising budgets are typically highest for a particular product during the introduction stage and gradually decline as the product matures.
The weakness is: It doesnt take in to account the Research and Development. On maturity stage if new strategies are adopted it will not pass on to the next stage of decline and fashion product can not be practicable through PLC as they come in to market after decline as well.
what does this stage imply for category competitors
Continental, a German automotive supplier, produces a wide range of automotive products including tires, brakes, powertrains, and electronics. Its product lifecycle typically consists of four stages: introduction, growth, maturity, and decline. During the introduction stage, the product is developed and launched. In the growth stage, sales and demand increase. The maturity stage is characterized by stable sales until the decline stage, where sales start to decrease.
Their special product life cycle of quick, dramatic sales and a sharp, drastic decline differs from the five stage product life cycle concept of product development, introduction, growth, maturity, and decline.
The five stages of the life cycle of Pepsi are, pre-launch, introduction, growth, maturity, and decline. marketing strategies are re-examined for every stage and the length of each stage depends on the product.