Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle.

Question

Quizplus · Accepted Answer

Kellogg's is in the growth stage since the company is expanding into new markets and increasing its promotion expenditure to check competition, which is typical during the growth stage of the product life cycle. The introduction stage is when the product is first launched in the market, and the company focuses on creating awareness and developing a market. The maturity stage is when sales growth slows down, and the focus is on retaining market share. The decline stage is when sales decline, and the product becomes less profitable, leading to a possible phasing out. Adoption is not a stage of the product life cycle but refers to the process of customers accepting and buying the product.

Kellogg's Begins to Sell Its Cereals in New Markets After