GK
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Decline
|
|
|
Maturity
|
|
|
Growth
|
|
|
Introduction
|
Detailed explanation-1: -4. Maturity. 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 growth stage of the product life cycle sees an increase in competition and a rapid rise in sales and profits. The market is flooded with competing brands that thrust a category and its products into the forefront.
Detailed explanation-3: -Maturity When sales begin to level off from rapid growth, you’re entering the maturity stage. You may have to reduce prices to stay competitive. Now, your marketing campaigns focus on differentiation instead of awareness, pointing out your superior product features.