Competition for a product or product category begins to increase rapidly during the following stage of the product life cycle:
A) Market introduction
B) Market growth
C) Market maturity
D) Sales decline
E) Market extinction

Question

Quizplus · Accepted Answer

During the market growth stage, the product or product category gains wider acceptance and popularity among consumers, leading to an increase in demand. This attracts more competitors to enter the market, which increases competition.

Competition for a Product or Product Category Begins to Increase