Which stage of the product life cycle is characterized by the introduction of new product variants?
A)Introduction
B)Growth
C)Maturity
D)Decline

Question

Quizplus · Accepted Answer

New products are associated with the introduction stage. But new product variants are associated with the growth stage. In the growth stage, competition increases dramatically. To capture a strategic advantage, firms introduce variants in an attempt to differentiate themselves from competitors.

Which Stage of the Product Life Cycle Is Characterized by the Introduction