First-time demand expands rapidly due to new customers entering the market in which of the following stages of the industry life cycle?
A) Embryonic
B) Growth
C) Shakeout
D) Maturity
E) Decline

Question

Quizplus · Accepted Answer

During the growth stage of the industry life cycle, demand expands rapidly as new customers enter the market, attracted by the proven viability of the product or service and the increasing availability and awareness of it.

First-Time Demand Expands Rapidly Due to New Customers Entering the Market