What is growth stage in product life cycle

Growth. During the growth stage, consumers have accepted the product in the market and customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a steadily rapid pace. The growth stage is when the market for the product is expanding and competition begins developing.

What is growth in the life cycle?

The Growth stage is the second of stages in the product life cycle, and for many manufacturers this is the key stage for establishing a product's position in a market, increasing sales, and improving profit margins.

What is the example of growth stage?

Growth stage or the growth and expansion stage is the second of five key phases in the business life cycle. The life cycle also includes launch, shake-out, maturity, and decline. During the growth stage, a startup will see sales increase rapidly. This is the phase in which businesses start to see profit.