Genuine Products has been involved in intensive price competition with one of its products. Profits are low and market researchers are concerned that losses will soon occur due to a reduced market for the item. This product has reached the ______ stage of the product life cycle.
A) introductory
B) growth
C) decline
D) maturity

Question

Quizplus · Accepted Answer

The given scenario implies that the product has been experiencing intense competition and declining profits, which indicates that it has reached the decline stage of the product life cycle. This stage is characterized by a reduction in demand and sales, leading to falling revenues and profits. In contrast, during the introductory stage, a product is newly launched and has not yet gained widespread acceptance in the market. The growth stage is characterized by rising demand and increasing profits, while the maturity stage is marked by stable demand and profits.

Genuine Products Has Been Involved in Intensive Price Competition with One