Which of the following product life-cycle stages would be appropriately described as being one where firms focus mainly on buyers from higher-income groups and prices tend to be high because costs are high
A) Introduction stage
B) Growth stage
C) Maturity stage
D) Saturation stage
E) Decline stage

Question

Quizplus · Accepted Answer

In the introduction stage, products are new to the market, and firms often target higher-income groups who are early adopters. Prices are high to recoup the costs of development and marketing.

Which of the Following Product Life-Cycle Stages Would Be Appropriately