In the growth stage of the product life cycle, competition:
A) is virtually nonexistent.
B) begins as competing firms introduce their own versions of the product.
C) has become wellestablished, with many weaker firms already leaving the market.
D) spurs major price cuts that dramatically cut into profits.

Question

In the growth stage of the product life cycle, competition:
A) is virtually nonexistent.
B) begins as competing firms introduce their own versions of the product.
C) has become well­established, with many weaker firms already leaving the market.
D) spurs major price cuts that dramatically cut into profits.

Quizplus · Accepted Answer

In the growth stage of the product life cycle, the product has gained acceptance among consumers and is growing in demand. This attracts new competitors who introduce their own versions of the product, leading to increased competition.

In the Growth Stage of the Product Life Cycle, Competition