MAX Electronics produces tiny wireless speakers that can be used with computers and MP3 players. The firm has built new factories to expand capacity and meet increasing domestic and foreign demand. Over the last six months, foreign and domestic competitors have emerged with a similar product in an attempt to benefit from high consumer demand. MAX Electronics is most likely in the ________ product stage of the product life cycle.

Question

Quizplus · Accepted Answer

The description indicates that MAX Electronics' product is in the maturing stage of the product life cycle. This stage is characterized by increased competition as other firms enter the market with similar products, aiming to capitalize on the established high demand.

MAX Electronics Produces Tiny Wireless Speakers That Can Be Used