products go through a product life cycle of __________ stages: __________.

Question

Quizplus · Accepted Answer

The typical product life cycle consists of four stages: introduction, growth, maturity, and decline. During the introduction stage, the product is introduced to the market and sales are low as awareness and interest are built. In the growth stage, sales increase rapidly and profits begin to rise. In the maturity stage, sales continue to grow but at a slower rate, and competition becomes more intense. Finally, in the decline stage, sales begin to decrease as the product becomes obsolete or replaced by newer products.

Products Go Through a Product Life Cycle of __________ Stages