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Essay Details:
Essay text:
Since the end of the product form is seen as inevitable, there are no sub-stages here.
Characteristics:
· Competition: As time goes on firms drop out until no one is producing the product.
· Target Market: Mostly consists of Laggards who have been loyal to this type of product for a long time and have not moved on to newer products.
· Product: No new improvements are introduced and some models are discontinued.
· Prices: May be rising as competitors drop out and companies still in the market have little incentive to engage in price competition. Also, there may be a large loyal market they may not be sensitive to price increases...
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