LED (light-emitting diode) light bulbs have been available for only a few years in low lighting levels (lumens). LEDs are designed to replace incandescent and even compact fluorescent light bulbs, in part because of a federal law that phases out incandescent light bulbs in favor of more energy efficient ones. LED bulbs, which today can cost about $10 to $15 for a 60-watt bulb, will last up to 20 years. In what stage of the product life cycle is this product?

Question

Quizplus · Accepted Answer

LED light bulbs are a relatively new product, and they are still in the early stages of their product life cycle. They are currently in the introduction stage, which is characterized by slow sales growth and high marketing costs.

LED (Light-Emitting Diode) Light Bulbs Have Been Available for Only