Identify and Briefly Characterise the Five Stages of the Product

Question

Examlex · Accepted Answer

The Answer is (a) Product development—begins when the company finds and develops a new product idea. During product development, sales are zero and the company's investment costs mount.
(b) Introduction—a period of slow sales growth as the product is introduced in the market. Profits are non- existent in this stage because of the heavy expenses of product introduction.
(c) Growth—a period of rapid market acceptance and increasing profits.
(d) Maturity—a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing outlays to defend the product against competition.
(e) Decline—the period when sales fall off and profits drop.

Identify and Briefly Characterise the Five Stages of the Product

Essay

Correct Answer:
Verified

Identify and Briefly Characterise the Five Stages of the Product

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified