Sales and profits for a successful product typically increase at their fastest rate during the:
A) Introduction stage
B) Growth stage
C) Maturity stage
D) Development stage
E) Decline stage

Question

Quizplus · Accepted Answer

During the Growth stage, the product gains acceptance in the market, and sales start increasing rapidly. The company is also likely to see an increase in profits as it benefits from economies of scale and cost efficiencies. The Growth stage is a critical stage for a successful product, and companies need to focus on maintaining their market share and competitive advantage.

Sales and Profits for a Successful Product Typically Increase at Their