MANAGEMENT

Detailed explanation-1: -Definition: Introduction stage is the first stage in the product life cycle. The highlighting factor of this stage is that the product is new in the market, sales are slow and to push it higher the company has to incur heavy expenditure on advertisement to make it appealing to customers.

Detailed explanation-2: -INTRODUCTION. Profits are low in this stage because things such as research and development, production and marketing costs are high. Prices are set high on the product or service to recoup some of the development and introduction costs (but may also be low as a way to more quickly build market share).

Detailed explanation-3: -Market Introduction and Development This product life cycle stage involves developing a market strategy, usually through an investment in advertising and marketing to make consumers aware of the product and its benefits. At this stage, sales tend to be slow as demand is created.

Detailed explanation-4: -The introduction stage happens when a product is launched in the marketplace. This is when marketing teams begin building product awareness and targeting potential customers. Typically, when a product is introduced, sales are low and demand builds slowly.