In the growth stage of the product life cycle, competition:
A) is virtually nonexistent.
B) begins as firms enter the market with new variations of existing products.
C) decreases with many weaker firms already leaving the market.
D) spurs major price cuts, which dramatically cut into profits.

Question

Quizplus · Accepted Answer

In the growth stage, competition begins to increase as more firms enter the market with new variations and improvements of the product, trying to capture market share.

In the Growth Stage of the Product Life Cycle, Competition