ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A product faces its greatest competition during the growth stage of the life cycle.
|
|
true
|
|
|
false
|
|
|
Either A or B
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -Maturity-In the maturity stage of the product life cycle, sales will reach their peak. Other competitors enter the market with alternative solutions, making competition in the market fierce. The company that introduced the new product may begin to find it difficult to compete in the market.
Detailed explanation-2: -The growth stage of the product life cycle is characterized by increases in competition, a dramatic increase in sales, and an expanding supply chain of distribution. An increase in competition during the growth stage will emerge as competitors develop similar products that enter the market.
There is 1 question to complete.