Question

A product's life cycle is divided into four stages, which are:

Answer 1

Answer: D. introduction, growth, maturity, and decline.

Explanation: The life cycle of products are divided into for stages. And it is the entirety of the process wherein a product is brought to a market, grows in popularity and demand, and is then removed from the market as demand drops gradually to zero.

These stages include:

1. Introduction - is characterized by a low growth rate of sales as the product is newly launched. Demand is very low and consumers may not know much about the product.

2. Growth - the public becomes increasingly aware of the product; demand, sales and revenues begin to increase.

3. Maturity - sales gets to its peak. This is because the product reaches market saturation, and competition with other similar products grows increasingly fierce.

4. Decline - sales, growth, begins to shrivel up, profits decline, competition still remains high, and the product ultimately reaches its ‘death' and is recalled from the market or production stopped entirely.