BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Market peaks and levels off during saturation. Few new customers buy the product and repeat orders disappear. Prices decline further due to stiff competition and firms fight for retaining market share or replacement sales.

Detailed explanation-2: -Maturity 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-3: -Maturity Marketing at this point is targeted at fending off competition, and companies often develop new or altered products to reach different market segments. Given the highly saturated market, less-successful competitors are often pushed out of competition during the maturity stage.

Detailed explanation-4: -The 4 stages are: 1) survival, 2) quality, 3) convenience, 4) customization.

Detailed explanation-5: -A product life cycle is a management tool that evaluates a product’s journey from development to withdrawal from the market. As mentioned earlier, it includes four stages-introduction, growth, maturity, and decline.