The product life-cycle stage in which there is a rapid sales increase, other firms have begun to market competing products, and lower unit costs and an overall tendency toward increased profit prevail is called
A) growth.
B) extension.
C) introduction.
D) decline.
E) maturity.

Question

Quizplus · Accepted Answer

During the growth stage, the product experiences a rapid increase in sales as it gains acceptance in the market, and the number of competitors grows. However, the lower unit cost due to economies of scale and the overall tendency toward increased profits, make this stage highly profitable for the firm.

The Product Life-Cycle Stage in Which There Is a Rapid