In which stage of the product life cycle would a firm most likely use price reductions and reminder advertising to encourage customers to replace worn-out items?
A) growth
B) youth
C) maturity
D) adoption
E) leveling

Question

Quizplus · Accepted Answer

During the maturity stage of the product life cycle, the market becomes saturated and sales growth slows down. In order to maintain market share, firms often resort to price reductions and reminder advertising to encourage customers to repurchase the product or replace worn-out items. This phenomenon occurs as customers become familiar with the product, and demand for it becomes stable.

In Which Stage of the Product Life Cycle Would a Firm