The leading producer of gardening tools,YourGarden Inc,has achieved great success because they produce high-quality tools that are not too expensive.Even so,another company that produces lower-quality tools at the same price has also achieved some success,but not as much as YourGarden.Also,in general,the price of gardening tools has declined because of economies of scale and learning.In addition,YourGarden has added complementary assets,such as gardening instruction.Considering all of these factors,the gardening tool industry is most likely in the

Question

Quizplus · Accepted Answer

The gardening tool industry is most likely in the growth stage. Since demand is strong during the growth phase, both efficient and inefficient firms thrive; the rising tide lifts all boats. Moreover, prices begin to fall, often rapidly, as standard business processes are put in place and firms begin to reap economies of scale and learning. Distribution channels are expanded, and complementary assets in the form of products and services become widely available.

The Leading Producer of Gardening Tools,YourGarden Inc,has Achieved Great Success