At the growth stage of an industry,
A) ongoing technological progress makes a product easier to use.
B) key complementary products are developed.
C) companies in the industry find ways to reduce costs.
D) demand for the product increases.
E) all of these.

Question

Quizplus · Accepted Answer

All of these options are typical characteristics of the growth stage of an industry. Ongoing technological progress can lead to improvements in the product and make it easier for customers to use. Key complementary products, such as accessories or software, may be developed by other companies to enhance the overall product ecosystem. Companies in the industry often find ways to reduce costs as production and distribution processes become more streamlined. As demand for the product increases, sales revenues and profits also tend to grow during this stage.

At the Growth Stage of an Industry