Which of the following product life-cycle stages would be appropriately described as being one where firms focus mainly on buyers from higher-income groups and prices tend to be high because costs are high?
A) decline stage
B) maturity stage
C) saturation stage
D) introduction stage
E) growth stage

Question

Quizplus · Accepted Answer

In the introduction stage of a product life cycle, products are often targeted at higher-income groups, and prices are set high due to the high costs associated with product development and initial marketing efforts. This strategy helps recover the initial investment and tests the market's acceptance of the new product.

Which of the Following Product Life-Cycle Stages Would Be Appropriately