During the Maturity Stage of the product life cycle, sales peak and profits begin to decline as competition becomes intense. group of answer choices
When sales reach their maturity stage, they start to slow down after a period of strong expansion. At this stage, businesses start lowering their prices in an effort to remain competitive against the escalating competition.
During this stage, a company starts to improve its efficiency and learn from its errors during the launch and growth phases. Typically, marketing strategies prioritise differentiation above awareness.
This implies that product features might be improved, costs could be decreased, and distribution could get more involved. Products start to move into the most lucrative stage as they mature. While sales are rising, production costs are falling.
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