After successfully selling a patented cookware product for two years,the Selzon Company has learned that several competitors with slight variations of this product have emerged in the market place. This particular cookware item is likely in what stage of the product cycle?
A)New product
B)Maturing product
C)Standardized product
D)Innovating
E)Decline

Question

Quizplus · Accepted Answer

The emergence of competitors with slight variations indicates that the product is in the maturing stage of its product cycle. During this stage, there is increased competition, and the focus is on maintaining market share and profitability rather than introducing new features or innovations.

After Successfully Selling a Patented Cookware Product for Two Years,the