A new product launched by a company is showing a rise in sales and a rapid rise in profits, and is being purchased by a group of early adopters and early majority buyers.In the context of the product life cycle, the product is in the:
A)introduction stage.
B)growth stage.
C)decline stage.
D)maturity stage.
E)initiation stage.

Question

Quizplus · Accepted Answer

The product is showing a rise in sales and profits, indicating that it has moved past the introduction stage. It is being purchased by early adopters and early majority buyers, which indicates that it is in the growth stage where sales are increasing rapidly. The decline stage is characterized by falling sales and profits, while the maturity stage is marked by stable sales and profits. The initiation stage is not a recognized stage of the product life cycle.

A New Product Launched by a Company Is Showing a Rise