Question

Which of the following is true about Product Life Cycles?a) A Reminder promotion is normally used in the introductory phaseb) Profits peak in the maturity phasec) Early adopters buy in the introductory phased) Sales peak in the growth phasee) A informative promotion is most generally used the maturity phase

Answer 1

The true statement about the product life cycle is c) Early adopters buy in the introductory phase

Early adopters in a product life cycle are a group of consumers who typically buy a product during the introductory phase. The product life cycle is a model that describes the stages that a product goes through from its development and introduction to the market, to its growth, maturity, and eventual decline. The introductory phase is the first stage of the product life cycle, and it is characterized by low sales and high marketing and promotional expenses.

During this phase, the product is introduced to the market and is often only available to a limited number of consumers. Early adopters are the first to try the product and are often willing to take risks and pay a premium price to have it. By buying the product during the introductory phase, early adopters help to generate buzz and interest in the product and can help to accelerate its growth.

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