In the market growth stage of the product life cycle:
A) competing products become almost the same in the minds of potential consumers.
B) distribution moves from intensive to selective.
C) many competitors drop out of the market.
D) total industry sales increase very slowly.
E) total industry profits reach their peak and begin to decline.

Question

Quizplus · Accepted Answer

In the market growth stage of the product life cycle, total industry profits reach their peak and begin to decline due to increased competition and the costs associated with attracting new customers.

In the Market Growth Stage of the Product Life Cycle