When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion, where a product is dropped from the firm's product line. Another less drastic choice is to retain the product in the product line, but to reduce marketing costs. When this option, called , is selected, advertising expenditures for the product are reduced and salespeople do not devote their efforts to selling the product.

harvesting

Explanation:

In the case when the product reached the decline stage so the firm would have the two options. The one option contains that the product is dropped from the product line of the firm and the other one is to continue with the product in the product line. so the second option we called as harvesting where the advertising expenditure could be reduced in which the company could able to gain maximum profit at the declining stage for any sales left

answertaxable income;