Greta has been analyzing the competitive standings of one of her products.Since she began her operation,20 similar products have appeared,forcing her to change distribution strategies.Greta has also needed to change pricing strategies in order to remain competitive.Sales volume has dipped,and she suspects sales of her product have reached a saturation level.At what stage of the product life cycle is this item?
A)decline stage
B)growth stage
C)maturity stage
D)introductory stage

Question

Quizplus · Accepted Answer

The product is in the maturity stage. This is evidenced by the fact that the market has become saturated with similar products, leading to a need for changes in distribution and pricing strategies. Sales volume has also dipped, indicating that the product has reached a level of market maturity where it is no longer experiencing growth. The decline stage, in contrast, would involve a significant decrease in sales and potentially the discontinuation of the product. The introductory stage would involve the launch of a new product, while the growth stage would involve rapid sales increases as the product gains popularity.

Greta Has Been Analyzing the Competitive Standings of One of Her