Question

Medical Products Inc. has just developed a new home examination kit that allows customers to perform most of the functions a doctor performs at an annual physical at home. Currently, this product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product. As a result, this product is most likely in the ________ stage of the product life cycle.

Answer 1

Answer:

introductory stage of product life cycle

Explanation:

Introductory stage of product life cycle -

It is refers to as the very first stage in the life cycle of the product , in this very stage the goods or services are completely new in the market and the sale is hence very slow , is referred to as the introductory stage of product life cycle  .

It is a very crucial stage for the product in order to publicize the product in order to increase the sale of the product to earn profit .

Hence , from the given scenario of the question ,

The correct answer is  introductory stage of product life cycle .