Question

Exit of weak competitors, new changes
in the product are the characteristics
of
in PLC.
​

Answer 1

Answer:

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Answer 2

Answer:

The maturity stage is when weaker competitors exit and new changes in the product.  

Explanation:

• The sales growth of the product slow down, and then the stage is called the maturity stage.
• During this stage, the companies try to gain customers from their competitors by cutting the prices and increasing promotions.  
• As the rivalry intensifies, weaker companies are forced to exit the market.
• This point is called the shake-out point.
• Thus, only the strongest competitors remain dominant in the market.
• Maturity stage last longer than the growth stage.
• It also poses the strongest challenges to marketing.  
• Problems during this stage are heavy competition in pricing and resulting marketing expenditures to retain brand loyalty.  
• Strategies taken by the company are innovating the market over modifying the product to altering the marketing mix.

Hence, the Maturity stage in PLC is when there is an exit of weak competitors and changes made in the products to retain in the market.