BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product quality is maintained and additional features and support services may be added.
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Pricing is maintained as the company enjoys increasing demand with little competition
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Product features may be enhanced to differentiate the product from that of competitors.
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Distribution channels are added as demand increases and customers accept the product.
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Detailed explanation-1: -Growth – In the growth stage, consumers start to take action. They buy the product; the product becomes popular and results in increased sales. There are other companies also that notice the product as it starts getting more attention and revenue.
Detailed explanation-2: -During the growth stage, consumers have accepted the product in the market and customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a steadily rapid pace. The growth stage is when the market for the product is expanding and competition begins developing.
Detailed explanation-3: -Product growth stage maintaining product quality and adding features or support services for the product. maintaining pricing to increase demand for the product. increasing distribution channels to cope with demand.
Detailed explanation-4: -In the growth stage, the market grows, competition intensifies, sales rise, and the number of customers increases. Price undercutting in the growth stage tends to be rare, as companies in this stage can increase their sales by attracting new customers to their product offerings.