The strategy of pricing toward the low end of the competition in order to take market share from the competition becomes most popular as a product reaches the _____ phase of the product life cycle.

Question

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As a product reaches the maturity phase, the market becomes saturated and competition intensifies. In order to maintain or increase market share, companies often resort to pricing their products lower than the competition. This strategy aims to attract price-sensitive customers and capture market share from competitors.

The Strategy of Pricing Toward the Low End of the Competition