MANAGEMENT

Detailed explanation-1: -Growth. During the growth stage, consumers have accepted the product in the market and customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a steadily rapid pace. The growth stage is when the market for the product is expanding and competition begins developing.

Detailed explanation-2: -Product growth strategies adding new product features or support services to grow your market share. entering new markets segments. keeping pricing as high as is reasonable to keep demand and profits high. increasing distribution channels to cope with growing demand.

Detailed explanation-3: -In the introduction stage, for example, your marketing efforts will likely be focused on building brand and product awareness, as well as establishing and connecting with a target market.

Detailed explanation-4: -Growth Stage. The usual characteristic of a successful new product is a gradual rise in its sales curve during the market development stage. 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.