A dance school in the Bronx teaches professional hip-hop and salsa. It is experiencing an increase in student admissions, which is leading to substantial improvement in profits. The school is going through the ________ phase of its life cycle.
A) decline
B) stagnancy
C) growth
D) introduction
E) maturity

Question

Quizplus · Accepted Answer

The increase in student admissions and improvement in profits indicate that the dance school is experiencing growth, which is the phase of the life cycle characterized by increasing sales and profits. This phase usually follows the introduction phase where the business is established and the product or service is introduced to the market. The stagnancy and decline phases come after the growth phase when the business reaches saturation and/or faces competition and starts losing market share. The maturity phase comes in between the growth and decline phases when the business stabilizes after the initial growth phase, and the sales growth rate starts slowing down.

A Dance School in the Bronx Teaches Professional Hip-Hop and Salsa