Procter & Gamble determined that its Thermacare Heat Wrap was underperforming and lacked a desired level of growth potential, so it decided to sell the brand. In what phase of the product life cycle was Thermacare Heat Wrap?

Decline

Explanation:

there are four stages of product life cycle

1. introduction

2. growth

3. maturity

4. decline

In decline stage growth declines as a result of decrease in demand. The best decision at this stage is to divest the asset. Since Thermacare heat wrap was under performing it must be in decline stage and divestment of the brand was done by Procter and Gamble