Which of the following is a characteristic of the growth stage of the product life cycle?

Question

Quizplus · Accepted Answer

During the growth stage of the product life cycle, companies add new or modified features to the product to differentiate it from competitors and sustain the growth momentum. In addition, the emphasis of advertising shifts from creating awareness to stimulating demand for a growing customer base. The proportion of repeat purchasers also increases as the product gains acceptance in the market. Profit margins are usually lower during the growth stage as companies may invest in product development, marketing, and distribution to support sales growth. The number of outlets may increase during the growth stage to accommodate demand.

Which of the Following Is a Characteristic of the Growth