Decision Point: How Will You Handle the Decline Stage?$$

Although it has been a profitable product for the company for several years, it has become obvious that Burnin' Rock is now in the decline stage of the product life cycle. Of the following options, which would be the best strategy for this stage?

Select an option from the choices below and click Submit.

Drop Burnin' Rock from the firm's product mix by either selling the product to another firm or simply liquidating the remaining inventories.

Shift the focus of the advertising campaign to brand differences and benefits vis$-$a$-$vis Burnin' Rock's competitors.

Keep Burnin' Rock on the market, but modify the marketing mix to maintain profitability.