Question

During which phase of product life cycle, completion becomes intense and high quality product is demanded at low cost

Answer 1

Answer:

According to Philip Kotler, 'The product life cycle is an attempt to recognize distinct stages in sales history of the product'. In general, PLC has 4 stages – Introduction, Growth, Maturity, and Decline. But for some industries which consist of fast moving products, for example, apparel PLC can be defined in 3 stages.

Answer 2

Sales are low and costs are high in the market introduction stage, thus, no profits are made. There is little to no competition and demand .

consumer products that provide benefits over a long period of time such as cars, furniture, and appliances...

a physical good or the delivered service that supplies the desired benefit...