Question

During which part of the Product Life Cycle would a company use a profit-oriented pricing strategy?

Answer 1

The lifespan of a product depicts how long it remains on the market, from the moment it is first introduced to consumers until it is phased out and taken off the shelves.

What is the maturity stage of the product life cycle?

Sales declined during the mature period, a sign that the market has started to become saturated. During this phase of the product life cycle, the price also starts to become competitive. The profit margins become slimmer as a result.

In most life-cycle situations, profits normally reach their greatest level during the early growth stages, but sales often reach their peak during the mature stages.

Learn more about the product life cycle here:

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