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Question 6 1 pts What successful strategies should be used to market the Times digital alarm clock at this stage of its PLC? Diversify brand and models. Cut prices; small price rises are possible if competition is scarce. Use promotion strategies that focus on developing product awareness and informing consumers about the product's potential benefits. Phase out unprofitable outlets. Phase out weak items. Cut prices; small price rises are possible if competition is scarce. Devote intensive efforts to establish long-term relationships with wholesalers and retailers. Use promotion strategies that focus on developing product awareness and informing consumers about the product's potential benefits. Phase out weak items. Cut prices; small price rises are possible if competition is scarce. Phase out all promotion or reduce to level needed to retain hard-core loyal customers. Phase out unprofitable outlets. Offer limited number of models. Distribution usually increased, depending on product. Prices are considerably high to recover high marketing, production, and development costs. Phase out all promotion or reduce to level needed to retain hard-core loyal customers.