Greek yogurt is a new, healthy product. What stage of the lifecycle industry would this product fall under? Explain what characteristics this industry would have?

Question

Quizplus · Accepted Answer

The Answer is Mature stage
-Yogurt is a food product that has been around for a very, long time.
-market growth is moderate
-consumers are price conscious
-intense competition
-companies focus on production, manufacturing and cost efficiencies
-incremental innovation - Greek yogurt is just another new type of yogurt, with some slightly different health benefits
-many companies will take a cost leadership strategy, since most products just have small improvements

Greek Yogurt Is a New, Healthy Product