BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Growth
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Introduction
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Product Development
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Maturity
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Detailed explanation-1: -Introduction The introduction stage happens when a product is launched in the marketplace. This is when marketing teams begin building product awareness and targeting potential customers. Typically, when a product is introduced, sales are low and demand builds slowly.
Detailed explanation-2: -Market Introduction and Development This product life cycle stage involves developing a market strategy, usually through an investment in advertising and marketing to make consumers aware of the product and its benefits. At this stage, sales tend to be slow as demand is created.
Detailed explanation-3: -The introduction phase is the first time customers are introduced to the new product. A company must generally includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits, especially if it is broadly unknown what the item will do.
Detailed explanation-4: -The stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the: Decline stage.