BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.

Detailed explanation-2: -Decline Stage Product sales begin to drop due to market saturation and alternative products, and the company may choose to not pursue additional marketing efforts as customers may already have determined whether they are loyal to the company’s products or not.

Detailed explanation-3: -During the growth stage, sales rise rapidly as consumers begin to accept the product. The production runs become longer, and economies of scale are achieved, reducing per-unit cost, and also helping profits to increase rapidly. Sales Promotion Strategy: Reduce to take advantage of heavy consumer demand.

Detailed explanation-4: -Market Maturity At this point a product is established in the marketplace and so the cost of producing and marketing the existing product will decline. As the product life cycle reaches this mature stage there are the beginnings of market saturation.

Detailed explanation-5: -Market decline. If your brand isn’t a marketplace favorite, you’ll start to experience the last stage. You’ll be facing more competition, and they’ll be taking a share of the market. Sales will typically decrease in the face of rising competition.