Question

cenario: Better Mousetrap Inc. Better Mousetrap Inc. is a manufacturing company that sells pest control products. Recently the company launched an innovative mousetrap with a unique design that has been selling well in the U.S. market. Senior Vice President Marc Wallace, even recommended expanding sales overseas in order to increase company revenues. Eventually, Wallace expects that domestic production of the mousetrap will cease altogether. This would happen in the ________ stage of the product life cycle.

Answer 1

Answer:

new product stage

Explanation:

The small business environment today is very dynamic and competitive, and new product development is a crucial process if you want to survive. For small enterprises to withstand competition from multinationals, they have to continuously update their products to conform to current trends. The new product development process is the cycle that a new product has to undergo from conceptualization to the final introduction into the market.

Answer 2

Answer:

The correct answer is:

Decline stage.

Explanation:

The decline stage of production life cycle is the the last stage of production life cycle, and it is the stage in which the domestic demand for a product is completely saturated, mainly because everyone in that demand population has the product. At this stage demand is very low of ceases altogether, which will cause the production to cease in that population, as producers look for external markets.

The stages of production life cycle from the first stage includes;

introduction stage, growth stage, maturity stage and decline stage.

In the introduction stage, the product is just being launched, and it is the most expensive stage of the production life cycle, production starts slow, as the product enters the market for the first time, but as it gains popularity int he market, production starts to increase.

During the growth stage, the production grows, and profit maximization is paramount. It is at this stage that most companies engage in promotional activities like advertising, selling shares etc.

In the maturity stage, the product is established, and the manufacturer has achieved the aim of establishing the product, what companies do at this stage is to protect against competitions and losses.