When a product experiences an increase in the number of competitors, it is usually in the _____ stage of the product life cycle; however, when that competition becomes intense, it is in the ____ stage.
A) introduction; maturity
B) introduction; growth
C) growth; decline
D) growth; maturity
E) maturity; decline

Question

Quizplus · Accepted Answer

When a product experiences an increase in the number of competitors, it is usually in the growth stage of the product life cycle as the product is gaining market acceptance and attracting new entrants. However, when that competition becomes intense, it is in the maturity stage as the market becomes saturated and competitors start to cut prices and increase promotional activities to protect their market share. Hence, Option D is the correct answer.

When a Product Experiences an Increase in the Number of Competitors