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, the product becomes popular among consumers, and there is a growing proportion of repeat purchasers as compared to initial purchasers. This means that the product gains loyalty from its consumers, leading to increased demand and sales. Option A is incorrect because primary demand is created in the introduction stage. Option C is incorrect because during the growth stage, the number of distribution outlets typically increases to reach a larger audience. Option D is incorrect because in the growth stage, profit margins tend to decrease due to increased competition and marketing expenses. Option E is also incorrect because companies may add new features to the product to maintain its popularity and continue to grow sales.

Which of the Following Is a Characteristic of the Growth