Maximizing market share is a key objective of the _________ stage.
A) Growth
B) Introduction
C) Decline
D) Maturity

Question

Quizplus · Accepted Answer

The Growth stage of the product life cycle is characterized by increasing sales and profits, and the main objective is to maximize market share. This is because gaining a larger market share during the growth stage gives the company a competitive advantage and paves the way for future success. In contrast, the Introduction stage is focused on creating awareness and generating demand, the Maturity stage is focused on maintaining market share and profitability, and the Decline stage is focused on minimizing losses and managing the product's phase-out.

Maximizing Market Share Is a Key Objective of the _________