Question

The characteristic life-cycle of a product consists of four periods. The rate of consumption increases rapidly at the beginning of the.

• A. Incubation period
• B. Growth period
• C. Maturity period
• D. Decline period

Answer 1

Answer:

B. Growth period

The product life cycle has four stages: Introduction, Growth, Maturity, and Decline. During the introduction stage, the product is launched in a target market. In the growth stage, sales volume grows rapidly and the competition is still low. In the maturity stage, sales volumes increase slowly and duplicate products are reported in foreign markets. In the decline stage, sales volumes decrease and many products are removed or discontinued. The original exporter can sell remaining products at discontinued items' prices.