Question

The stage in the product life cycle when competitors enter the market is known as the _____ stage. Select one: a. Maturity b. Growth c. Introduction d. Decline e. Downsizing

Answer 1

Answer:

The answer is B.

Explanation:

The life cycle of a product has 5 stages. The first stage, which is introduction, consist of things such as the point of entry to the market, low number of customers. The second stage, growth stage, is where the product sales start to increase and more companies start production and enter the market. In the maturity stage, sales numbers reach their highest point and after that they begin to decrease along with the number of customers, towards decline.

So the answer is option B, growth.

I hope this answer helps.

Answer 2

Answer: Growth stage

Explanation:

The growth stage is the period in the product life cycle during which the product has started to eventually and increasingly gains the acceptance among consumers, industry, and also the wider general public.

During this stage, the innovation or the product becomes accepted in the market, and hence, the sales and the revenues start to increase. At this stage, competitors start entering the market.