Competition remains constant during a product's life cycle.

Question

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Competition can vary during a product's life cycle. At the introduction stage, competition may be relatively low as the product is new and unique. As the product reaches maturity, the competition may increase as more companies enter the market with similar offerings. Towards the end of the product's life cycle, competition may decrease as the market size and demand decrease, and fewer competitors remain in the market.

Competition Remains Constant During a Product's Life Cycle