Question

Which of the following best describes the stages of a product life cycle. Select one: A. Product Development, Introduction, Growth, Maturity and Decline B. Introduction, Growth, Product Development, Decline and Maturity C. Product Development, Introduction, Growth, Decline and Maturity

Answer 1

Explanation:

Option D is the correct answer

Answer 2

Answer:

Correct answer is A. Product Development, Introduction, Growth, Maturity and Decline.

Explanation:

• Introduction: To raise customer awareness of the product and its advantages, this phase often involves a sizable expenditure in advertising and promotion.
• Growth: The product enters the growth stage if it is a success. This is characterized by a rise in demand, an expansion in supply, and a rise in output.
• Maturity: While production and marketing expenses are declining, this is the period that is most profitable.
• Decline: A product faces more competition as other businesses try to replicate its success, either by adding new features or lowering pricing. The item can lose market share and start to deteriorate.

A product's life cycle is the period of time from when it is first introduced to the market until it is discontinued.

#SPJ2