Pfizer Corp. is introducing a really new product idea. Pfizer is spending a lot of money to inform potential customers and intermediaries about the availability and advantages of the new product. Although sales are rising slowly, Pfizer doesn't expect the product to become profitable for at least another year. Pfizer's new product is in which stage of the product life cycle?
A) Market introduction
B) Sales decline
C) Market development
D) Market growth
E) Market maturity

Question

Quizplus · Accepted Answer

The scenario describes a new product idea that is being introduced to the market and is still in the early stages of gaining traction. The fact that sales are rising slowly indicates that the product is in the market introduction stage, where the focus is on creating awareness and trial among potential customers and intermediaries. The profitability of the product is not expected for at least another year, indicating that it still has a long way to go before reaching the market growth or maturity stages.