Question

The leading producer of cell phone backup batteries, Jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. Even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as Jumpstart. Also, in general, the price of backup batteries has declined because of economies of scale and learning. In addition, Jumpstart has added complementary assets, such as a carrying case. Considering all of these factors, the backup battery industry is most likely in the
a. introduction stage.
b. growth stage.
c. shakeout stage.
d. maturity stage.

Answer 1

Answer:

Growth stage

Explanation:

The growth stage is the second stage in the growth life cycle. This is the most important stage of the product life cycle.  

There are several challenges in growth stages:

• Increasing competition  
• Lower prices
• Different marketing approach
• Benefits of the growth:
• Cost is reduced y the producer
• Greater consumer awareness about the product is also affected.  
• Increase in profits  

In this cycle, the product is high at the rate of the growth period. But it is important to maintain the product's life as long as possible.