Sales of Hi-Click Corporation's digital video cameras are rising rapidly, profits are peaking, and competitors are entering the market. Hi-Click is able to maintain its market lead. Judging from this example, the digital video camera is in which stage of the product life cycle?
A) introduction
B) maturity
C) growth
D) evaluation

Question

Quizplus · Accepted Answer

The rising sales and profits indicate that the product is in the growth stage of the product life cycle. The entry of competitors also suggests that the market is expanding and becoming more competitive, which are typical characteristics of the growth stage. The maturity stage is characterized by slowing sales growth and intense competition, while the introduction stage is marked by low sales and high marketing expenses. There is no such stage called evaluation in the product life cycle.

Sales of Hi-Click Corporation's Digital Video Cameras Are Rising Rapidly