Question

Cost minimization is an appropriate strategy in which stage of the product life cycle?

a. Introduction

b. Growth

c. Maturity

d. Decline

Answer 1

introduction is answer

Answer 2

The right option to choose, in this case, would be option ‘D’. That is, the decline is the correct and most appropriate answer.

The decline is a stage of the product life cycle and includes cost minimization. Cost minimization means reducing the cost of expenses to the most.

The cost is reduced as much s it can for maximum profit. Therefore, the correct statement will naturally become ‘Cost minimization is an appropriate strategy in DECLINE stage of the product life cycle’.