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: -The maturity stage of the product life cycle is the most profitable stage, the time when the costs of producing and marketing decline.
Detailed explanation-2: -The introduction stage is often preceded by a research and development stage. For the purposes of the product life cycle stages, we will start from when the product is first introduced to the marketplace. This stage is by far the most expensive stage in a product’s life cycle.
Detailed explanation-3: -Decline Stage. The decline stage is the last stage of the life cycle. Characteristics of the decline stage include: Sales and profits decline.
Detailed explanation-4: -During the maturity stage, products begin to enter the most profitable stage. The cost of production declines while the sales are increasing.