The marketing strategy where you improve the product and keep the product mix limited goes with what stage of the product life cycle?

Question

Quizplus · Accepted Answer

This strategy of improving the product and keeping the product mix limited is best suited for the growth stage of the product life cycle. At this stage, sales are increasing rapidly and the market is expanding, so focusing on improving the product can help to maintain this growth and keep up with competitors. Keeping the product mix limited can also help to streamline operations and maximize profitability. In the introduction stage, the focus is on creating awareness and generating demand for the product, while in the maturity stage, the focus is on defending market share and maximizing profits. In the decline stage, the focus is on either revitalizing the product or phasing it out.

The Marketing Strategy Where You Improve the Product and Keep