Question

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

1) introduction
2) growth
3) adolescence
4) decline
5) retirement

Answer 1

Cost minimization is an appropriate strategy in the decline stage of the product life cycle.

Step-by-step explanation:

In the product life cycle, cost minimization is an appropriate strategy in the decline stage. During this stage, the product is losing market share and sales are declining. To remain profitable, companies often reduce costs by streamlining operations, cutting expenses, and optimizing production processes.