Which stage of the product life cycle sees a gradual decline in sales?

The decline stage of the product life cycle is characterized by a gradual decrease in sales and market interest. During this phase, products often face reduced demand due to various factors such as market saturation, changes in consumer preferences, or the introduction of newer and more innovative products.

As sales decline, companies may choose to cut costs, discontinue the product, or try to rejuvenate interest through marketing strategies or product modifications. Understanding this stage is crucial for businesses to make strategic decisions regarding the management of their product portfolio.

In contrast, the introduction stage marks the launch of a product, focusing on building awareness and customer acceptance, while the growth stage sees an increase in sales as the product gains traction in the market. The maturity stage is characterized by peak sales and market saturation, where growth slows down but sales remain stable before entering the decline phase.