What is a key characteristic of the maturity stage?
The mature stage's main characteristic is that sales volumes are still growing but at a slower rate. The closer to the end of the mature, the slower will be the growth in sales volume. Competition for market share and customers is also more intense.
What are two key characteristics of the growth stage?
The growth stage of the product life cycle is characterized by increases in competition, a dramatic increase in sales, and an expanding supply chain of distribution. An increase in competition during the growth stage will emerge as competitors develop similar products that enter the market.
What is the maturing stage?
maturity stage. Definition English: Longest period in the life cycle of a firm, industry, or product, during which sales peak and start to decline. In economics, the final stage of economic growth characterized by high level of mass consumption.
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