Based on the graph, which of the following stages in a product's life cycle is characterized by increasing competitors and a rapid rise in industrial sales?
A)Maturity stage
B)Growth stage
C)Introduction stage
D)Domination stage
E)Decline stage

Question

Quizplus · Accepted Answer

The growth stage is characterized by increasing competitors and a rapid rise in industrial sales as the product gains acceptance in the market. This is shown in the graph by the steep upward curve in the sales volume line during the growth period, which is accompanied by an increase in the number of firms entering the market.

Based on the Graph, Which of the Following Stages in a Product's