ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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decline
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introduction
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maturity
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None of the above
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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: -The introduction stage is the first stage of the life cycle of a product. During this stage, the product is launched in the market, and the focus of the business is to create awareness and generate interest. This stage is characterized by low sales, as the product is new, and consumers are not yet familiar with it.
Detailed explanation-3: -Maturity Stage Eventually, the market grows to capacity, and sales growth of the product declines. In this stage, price undercutting and increased promotional efforts are common as companies try to capture customers from competitors.