What is a characteristic of the growth stage of the product life cycle?
A) Low prices are established.
B) Effective competitors improve and modify their products.
C) Early buyers of the product make their initial purchases.
D) Buyers are hesitant to make repurchases.

Question

Quizplus · Accepted Answer

During the growth stage of the product life cycle, competitors notice the success of the product and enter the market with their own versions, often improving and modifying their products to capture a share of the market. This stage is characterized by increasing sales, more competitors, and efforts to differentiate products.

What Is a Characteristic of the Growth Stage of the Product