As a product moves into the market maturity stage of the product life cycle:
A) Consumers tend to view products as being more similar.
B) The competitive situation moves toward monopoly.
C) Promotion emphasizes informing consumers more than persuading them.
D) There is less consideration of competition in setting prices.
E) All of the above.

Question

Quizplus · Accepted Answer

As a product moves into the market maturity stage, consumers tend to view products as being more similar, as there are more alternatives available and the differences between products become less distinct. Additionally, in this stage, companies focus more on maintaining market share than competing against each other, so there is less consideration of competition in setting prices. Promotions may still persuade consumers to choose a particular brand, but there is typically a greater emphasis on informing consumers of product features and benefits. However, the competitive situation does not necessarily move toward monopoly in this stage.

As a Product Moves into the Market Maturity Stage of the Product