Which of the following statements accurately brings out the distinction between the introduction and growth stages of the industry life cycle?
A) There is more strategic variety in the growth stage when compared to the introduction stage.
B) The number of competitors is more in the introduction stage than the growth stage.
C) The market size for a new product or service is larger in the introduction stage when compared to the growth stage.
D) While achieving market acceptance is the strategic objective during the introduction stage, the objective in the growth stage is to pursue a harvest strategy.

Question

Quizplus · Accepted Answer

Since market demand is robust in the growth stage and more competitors have entered the market, there tends to be more strategic variety: Some competitors will continue to follow a differentiation strategy, emphasizing unique features, product functionality, and reliability. Other firms employ a cost-leadership strategy in order to offer an acceptable level of value but lower prices to consumers.

Which of the Following Statements Accurately Brings Out the Distinction