BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Growth Stage
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The Introduction Stage
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The Decline Stage
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The Maturity Stage
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Detailed explanation-1: -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-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: -Introduction Stage: The introduction stage shows low sales numbers as the product is being introduced in the market. Profit is zero or negative in this stage because of the heavy expenses of product introduction.
Detailed explanation-4: -In introductory stage, competitors start entering into the market by developing similar products. Then in maturity stage, there are maximum number of competitors in the market.