Which of the following statements is most likely to be true regarding the growth stage of a product life cycle?
A) The growth stage of a product life cycle comes after the maturity stage.
B) During the growth stage, demand for a product is typically replacement demand because incremental innovation has resulted in a new generation of the product.
C) In a product life cycle, the growth stage is followed by the embryonic stage.
D) During the growth stage, many consumers buy the product for the first time.

Question

Quizplus · Accepted Answer

During the growth stage, many consumers buy the product for the first time. This is because during the growth stage, awareness of the product increases and its benefits become clear to a wider audience, resulting in increased demand. The growth stage typically comes after the introduction stage and before the maturity stage in the product life cycle. The embryonic stage comes before the growth stage, and is characterized by low sales and a lack of market awareness. Option B is incorrect because replacement demand typically occurs during the maturity stage, not the growth stage, when there is a new generation of the product that replaces older versions.

Which of the Following Statements Is Most Likely to Be