In which product life cycle stage must companies focus on educating potential customers about the advantages of a new product concept?
A) Market establishment.
B) Market introduction.
C) Market growth.
D) Market maturity.
E) Sales decline.

Question

Quizplus · Accepted Answer

During the market introduction stage, companies must focus on educating potential customers about the advantages of a new product concept. This is because customers may not be familiar with the product or may not understand how it can benefit them. As such, the company must use advertising, promotions, and other marketing efforts to create awareness and interest in the product.

In Which Product Life Cycle Stage Must Companies Focus on Educating