BUSINESS ADMINISTRATION
RETAIL MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Introduction
|
|
|
Increase
|
|
|
Maturity
|
|
|
Research
|
|
|
Slope
|
Detailed explanation-1: -D) Maturity is the stage of the product life cycle at which the product reaches its peak. There is no more scope of growth in the life cycle of the product after this stage. The promotion of the product is not to a very great extent at this point. So, it is a wrong option.
Detailed explanation-2: -A product life cycle consists of four stages: introduction, growth, maturity, and decline. A lot of products continue to remain in a prolonged maturity state.
Detailed explanation-3: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline. The concept was developed by German economist Theodore Levitt, who published his Product Life Cycle model in the Harvard Business Review in 1965. We still use this model today.