The ____ proposes that products initially go through a period of introduction,followed by relatively rapid growth as more competitors enter the market and consumer acceptance of the product increases.As competition increases,weaker competitors drop out of the market and product sales tend to stabilize.Later,sales decline.

Question

Quizplus · Accepted Answer

The given description aligns with the concept of product life cycle, which explains the stages a product goes through from introduction to decline. Option A, B, C, and D do not accurately describe this cycle.

The ____ Proposes That Products Initially Go Through a Period