which statement best describes a product in the maturity stage of the product life cycle? a....
which statement best describes a product in the maturity stage of the product life cycle?
a. product and its market are still being refined
b. the demand for the product is stable
c. the product is not yet well defined
d. the product is facing stiff competition due to a saturated market
Homework Answers
d. the product is facing stiff competition due to a saturated market
In the maturity stage, the market share decreases due to increase in competition and hence the product faces stiff competition accordingly for the same.
b. the demand for the product is stable
In the maturity stage of the product life cycle, the product has already been introduced and has achieved widespread acceptance in the market. During this stage, the demand for the product tends to be stable as it has reached its maximum market share. The product has a well-defined market and competition may be present but not as intense as in the growth stage. The focus during this stage is on maintaining market share and profitability rather than rapid growth.
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which statement best describes a product in the maturity stage
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does figure 14.5 indicate firms should do at that stage? What will
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optimize profits?
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