Which statement best describes the maturity stage of the product lifecycle?
A) It is the second stage of the product lifecycle.
B) Since the product is unknown to the public during this stage, the promotional campaigns stress information about its features.
C) During this stage differences between competing products diminish.
D) It is characterized by rapid growth in the volume of sales.

Question

Quizplus · Accepted Answer

During the maturity stage of the product lifecycle, the differences between competing products often diminish as the market becomes saturated with similar products. This stage is characterized by a slowdown in sales growth as the product reaches widespread acceptance and market saturation, leading to increased competition and a focus on differentiation and efficiency.

Which Statement Best Describes the Maturity Stage of the Product