During which of the following product life cycle stages do companies need to devote a significant...
During which of the following product life cycle stages do companies need to devote a significant marketing budget to create broad awareness and educate the public about the new product?
decline stage
maturity stage
market Introduction stage
growth stage
Homework Answers
Ans: market Introduction stage
Introduction stage is the first stage in the product life cycle. The highlighting factor of this stage is that the product is new in the market, sales are slow and to push it higher the company has to incur heavy expenditure on advertisement to make it appealing to customers.
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During which of the following product life cycle stages do
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