During the ___________ stage, firms attempt to reach new consumers by studying their preferences and producing different product

Question

Georgia [21]

3 years ago

15

During the ___________ stage, firms attempt to reach new consumers by studying their preferences and producing different product

variations—varied colors, styles, or features—which enable them to segment the market more precisely.

Social Studies

1 answer:

Anna007 [38] · Answer 1 · 2022-01-21T21:00:41+03:00

Answer:

The answer is: growth stage.

Explanation:

In the growth stage, a business begins to have a positive cash flow, which means the product has gained some acceptance among consumers. For marketing, this is the time a business should begin to innovate on its product, taking advantage of the fact that it has started to gain a place within the market.

By studying the preferences of their now consumers and taking into account their feedback the firm can creat variations of the product, such as the ones stated in the question, varied colores, styles or features; and increase its possibilities to reach the maturity stage of the product.