Questions: Select all that apply Which are stages in the product life cycle? Introduction Withdrawal Progress Growth Maturity

Select all that apply Which are stages in the product life cycle? Introduction Withdrawal Progress Growth Maturity
Transcript text: Select all that apply Which are stages in the product life cycle? Introduction Withdrawal Progress Growth Maturity
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Solution

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The answer is:

  • Introduction
  • Growth
  • Maturity

Explanation: The product life cycle typically consists of the following stages:

  1. Introduction: This is the stage where the product is launched into the market. Marketing efforts are high to create awareness.
  2. Growth: In this stage, the product gains acceptance, sales increase rapidly, and profits start to rise.
  3. Maturity: The product reaches its peak in terms of market penetration. Sales growth slows down, and competition becomes more intense.

The other options:

  • Withdrawal: This is not a standard stage in the product life cycle. It might refer to the decline phase, but it is not commonly used terminology.
  • Progress: This is not a recognized stage in the product life cycle. It is a general term that does not specifically apply to the product life cycle stages.
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