Question

Over the past 100 years or so, Binney and Smith's Crayola crayons have become household staples in more than 80 countries around the world. The company occasionally tinkers with the product's marketing mix to maintain market share. Crayola crayons are in the ________ stage of the product life cycle.

Answer 1

Answer: Maturity stage

Explanation: In simple words, it refers to the longest stage of product life cycle in which the sales growth of the product starts to decline. In this stage , the company experiences highest demand for the products and often find problems in maintaining the market share.

In the given case, Binney and smith have their operations in 80 countries and are having problem in maintaining the current market share.

Hence from the above we can conclude that the company is in maturity stage.

Answer 2

Answer: Maturity stage

Explanation:

Maturity stage tends to occur after growth and introduction stages. Maturity stage is known as one of the longest stages of product life cycle. Under this stage, the sales growth tends to decline; the organization tends to reach the highest point under a demand cycle; and thus advertising strategies tend to have a minimal impact on their sales growth.