ENTREPRENEURSHIP

Detailed explanation-1: -Maturity Stage: During the maturity stage of the product life cycle, the sharp growth in sales begins to slow, and profits at the beginning of this stage decline. The most notable characteristic of this stage is the peaking of the product’s sales and profit curves.

Detailed explanation-2: -Under most life-cycle conditions, profits typically peak before sales do, with profits reaching their peak level during the early growth stages and sales reaching their peak in the maturity stages.

Detailed explanation-3: -Saturation: At the saturation stage, the market becomes saturated with the product and sales start to decline. Companies will start to look for ways to differentiate the product from competitors. Decline: During the decline stage, sales and profits start to decline.

Detailed explanation-4: -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.