Which of the following is a feature of the growth stage of the industry life cycle?
A) The consumer demand increases.
B) The prices of goods begin to rise.
C) The basis of competition moves away from process innovation.
D) The number of competitors decreases.

Question

Quizplus · Accepted Answer

Market growth accelerates in the growth stage of the industry life cycle. After the initial innovation has gained some market acceptance, demand increases rapidly as first-time buyers rush to enter the market, convinced by the proof-of-concept demonstrated in the introductory stage.

Which of the Following Is a Feature of the Growth