GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Introduction
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Growth
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Maturity
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Decline
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Detailed explanation-1: -At some point in this rise a marked increase in consumer demand occurs and sales take off. The boom is on. This is the beginning of Stage 2-the market growth stage. At this point potential competitors who have been watching developments during Stage I jump into the fray.
Detailed explanation-2: -Maturity – In the maturity stage, sales slow down, indicating that the market has begun to reach saturation. This is also one of the stages of the product life cycle when pricing becomes competitive.
Detailed explanation-3: -The maturity stage of the product life cycle is the most profitable stage, the time when the costs of producing and marketing decline.
Detailed explanation-4: -Market growth At this point in the life cycle, consumers have embraced your product and are buying into your marketing. Demand and profits are growing, and the competition is looking to interrupt your success.