During the market introduction stage of the product life cycle:
A) large profits are typical-until competition arrives.
B) Price and Promotion are more important than Place and Product.
C) much money is spent on Promotion, while spending on Place is left until later.
D) money is invested-in the hope of future profits.
E) most customers will try really new products.

Question

Quizplus · Accepted Answer

During the market introduction stage, the product is new and needs to be introduced to the market. This requires significant investments in promotion and advertising to create awareness and interest among potential customers. Therefore, companies typically spend a lot of money at this stage in the hope of future profits. Large profits are not typical during this stage as the market is not fully developed, and competition is usually low. Place (distribution) and Product are also important factors to consider during this stage, but they may be less of a priority than Price and Promotion. Most customers may not be willing to try new products during this stage due to the lack of awareness and familiarity.

During the Market Introduction Stage of the Product Life Cycle