During the market growth stage of the product life cycle, industry profits usually reach their peak and begin to decline.

Name: During the market growth stage of the product life cycle, industry profits usually reach their peak and begin to decline.
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Question

Quizplus · Accepted Answer

During the market growth stage, competition increases, leading to a decline in industry profits as companies lower their prices to attract customers. The peak of profits usually occurs during the maturity stage, after which they start to decline.

During the Market Growth Stage of the Product Life Cycle