Which of the following statements is most likely true about the product life cycle?
A) Throughout the product introduction stage, sales are zero.
B) The growth stage is the longest stage of the product life cycle.
C) Profits are nonexistent in the growth stage.
D) Growth is a period of rapid market acceptance and increasing profits.
E) Maturity is the period when sales fall off but profits continue to rise.

Question

Quizplus · Accepted Answer

The growth stage is characterized by rapid market acceptance and increasing profits, making it a crucial stage in the product life cycle. Option A is incorrect as sales gradually increase during the introduction stage until they reach a point where they start growing rapidly in the growth stage. Option B is incorrect as the maturity stage is more prolonged than the growth stage as sales slow down, and the product approaches the end of its life cycle. Option C is incorrect as the growth stage is when profits accelerate due to increased market share and economies of scale. Option E is incorrect as the maturity stage is when sales either plateau or start to decline, leading to reduced profits due to increased competition and market saturation.

Which of the Following Statements Is Most Likely True About