A market that mainly competes on the basis of price and has stagnant growth is characteristic of what life cycle stage?
A) introduction
B) growth
C) maturity
D) decline

Question

Quizplus · Accepted Answer

In the maturity stage of the industry life cycle, aggregate industry demand softens. As markets become saturated, there are few new adopters. Rivalry among existing rivals intensifies because of fierce price competition at the same time that expenses associated with attracting new buyers are rising.

A Market That Mainly Competes on the Basis of Price