In the growth stage of the product life cycle, competition: a. spurs major price cuts that dramatically cut into profits. b. becomes well-established, with many weaker firms already leaving the market. c. is virtually nonexistent. d. begins as firms introduce their own versions of the product.

Question

Business

Damian Johns

7 April, 02:55

In the growth stage of the product life cycle, competition: a. spurs major price cuts that dramatically cut into profits. b. becomes well-established, with many weaker firms already leaving the market. c. is virtually nonexistent. d. begins as firms introduce their own versions of the product.

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Answers (1)

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Larry Dunn · Answer 1

d. Begins as firms introduce their own versions of the product.

Explanation:

During the introduction stage of a product life cycle, there is almost no competition at all, so the focus of the company is in the promotion of the product. But once the growth stage takes place, the other companies start introducing their products into the market, and competition starts to increase.