Banking · Product Life Cycle
A bank's Product Management team decides to discontinue a rarely used, high-maintenance remittance service after a review showed its annual maintenance cost exceeded the generated fee-based income by 20% for three consecutive years. This strategic decision aligns with the strategy typically employed during which phase of the Product Life Cycle (PLC)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Decline Stage✓
- 2Maturity Stage
- 3Growth Stage
- 4Introduction Stage
Correct answer
Decline Stage
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