Meryl has been analyzing the competitive standings of one of her products.Since she began her operation,20 similar products have appeared,forcing her to change distribution strategies.Meryl has also changed pricing strategies in order to remain competitive.Sales volume has dipped,and she suspects sales of her product have reached a saturation level.This item is in which of the following stages of the product life cycle?
A)Decline stage
B)Growth stage
C)Maturity stage
D)Introductory stage

Question

Quizplus · Accepted Answer

The product is in the maturity stage of the product life cycle. This is evident from the saturation level of sales volume, increased competition, and changes in pricing and distribution strategies. In the maturity stage, sales growth slows down, and competition intensifies, forcing companies to focus on retaining market share rather than expanding it.

Meryl Has Been Analyzing the Competitive Standings of One of Her