The growth stage of an industry's life cycle is the:
A) time when companies attempt to secure their grip over customers in existing market segments.
B) time when customers start exiting the markets.
C) time to plan an exit strategy.
D) time to reduce investment in a product.
E) time when the demand for products is low because customers are not familiar with the product.

Question

Quizplus · Accepted Answer

The growth stage is characterized by the increasing demand for products and the entry of new players into the market. Companies focus on expanding their customer base within existing market segments and securing their position in the industry. This is the time to invest in marketing, distribution, and production to meet the growing demand.

The Growth Stage of an Industry's Life Cycle Is The