In the context of the product life cycle theory,which of the following statements is true of the first stage?
A) In this stage,a new product is commoditized.
B) In this stage,a new product is standardized.
C) In this stage,production of a new product that commands a price premium is involved.
D) In this stage,it becomes worthwhile to produce a product in other developed nations.

Question

Quizplus · Accepted Answer

In the first stage of the product life cycle, known as the introduction stage, a new product is launched, and it often commands a price premium due to its novelty and lack of competition.

In the Context of the Product Life Cycle Theory,which of the Following