Which of the following is a characteristic of the growth stage of the product life cycle?

Question

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During the growth stage of the product life cycle, sales and profits grow at higher rates than at any other part of the product life cycle. This is due to increased acceptance and adoption of the product by consumers, as well as the potential for economies of scale and increased efficiency in production. Prices may either remain stable or even decrease slightly as competition begins to increase, but overall sales and profits continue to grow. The acceptance of innovative products tends to remain high during the growth stage, with imitative products also gaining traction as the market expands.

Which of the Following Is a Characteristic of the Growth