The four major stages of a product life cycle include
A) prosperity, recession, depression, and recovery.
B) specialty, convenience, shopping, and unsought goods.
C) decline, stabilization, exposure, and growth.
D) introduction, growth, maturity, and decline.
E) awareness, interest, trial, and adoption.

Question

Quizplus · Accepted Answer

The four major stages of a product life cycle are Introduction, Growth, Maturity, and Decline. These stages represent the different phases a product goes through from its launch to eventual decline in the market. During the Introduction stage, the product is new and unfamiliar to consumers, and sales are low. The Growth stage is characterized by an increase in sales as the product gains acceptance among consumers. Maturity is the stage where sales reach their peak, and the market becomes saturated with similar products. Finally, during the Decline stage, sales decrease as the market becomes saturated, and consumers move on to newer products.

The Four Major Stages of a Product Life Cycle Include