Frequently, a product enters the stage of its product life cycle not because of any wrong strategy on the part of companies, but because of environmental changes.

Decline stage.

Explanation:

There are different stages a new product goes through in the market, that is called the lifecycle of a product.

Four stages of lifecycle of a product are:

Introduction stage:  It is a stage of a product when it is introduced to its target market. Sales grow slowly, and profit remain minimal at the beginning.

Growth stage: It is a stage of a product where we can observe rapid increases in sales. This is a stage where competitor start increasing, more investment is required at this stage. Profit usually increase during the growth stage.

Maturity Stage: It is a stage of a product which is characterized by a slowing of total industry sales or revenue. Competition reduce at this stage. Sales increase at a decreasing rate in the maturity stage as fewer new buyers enter the market. the cost of gaining new buyers at this stage rise.

Decline Stage: It is a stage of lifecycle of a product when sales drop and production reduced. It is a terminal stage, where profitability fall, gradually give no profit and company have to stop the production. Frequently, a product enters this stage not because of any wrong strategy of a company, but because of environmental changes.