What stage of the product life cycle is the period of time when sales increase at an increasing rate?

Question

Quizplus · Accepted Answer

The period of time when sales increase at an increasing rate is the growth stage of the product life cycle. During this stage, the product has gained acceptance in the market, and sales are growing rapidly. This is also the stage when competitors start entering the market to capitalize on the growth potential. Therefore, companies need to focus on differentiating their product and expanding their market share during the growth stage.

What Stage of the Product Life Cycle Is the Period