Asked by Corren Bouton on Jun 27, 2024
Verified
Which stage of the product cycle is characterized by severe competition and heavy expenditures?
A) Growth
B) Intermediate
C) Introductory
D) Decline
E) Maturity
Product Cycle
The stages through which a product goes from its initial concept phase to development, market introduction, growth, maturity, and eventual decline.
Severe Competition
A market situation where businesses intensely compete with each other for market share and customer loyalty, leading to aggressive pricing strategies and marketing.
- Understand the phases of the product life cycle and the relevant strategies for each phase.
Verified Answer
ZK
Zybrea KnightJul 02, 2024
Final Answer :
E
Explanation :
During the maturity stage of the product life cycle, competition becomes severe as the market becomes saturated. Companies may need to invest heavily in marketing efforts to maintain their market share and differentiate their products from competitors.
Learning Objectives
- Understand the phases of the product life cycle and the relevant strategies for each phase.
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