Final answer:
A runout approach to product deletion allows a product to decline without changing the marketing strategy.
Step-by-step explanation:
The statement is true. A runout approach to product deletion allows a product to decline without changing the marketing strategy. This means that the business gradually reduces its marketing efforts and resources for the product, allowing it to naturally decline in sales and popularity over time.
This approach is often used for products that are nearing the end of their lifecycle or have become less profitable. Instead of actively promoting or investing in the product, the company focuses on managing its decline while redirecting resources to more profitable products.
An example of a runout approach to product deletion is when a company decides to discontinue an older model of a smartphone. Instead of introducing new marketing campaigns or strategies, they gradually reduce the inventory, lower the price, and inform customers about the availability of newer models. This allows the product to decline naturally without significant changes to the marketing strategy.