Which of the following statements characterise the growth phase of product life-cycle?

(A) Build intensive distribution

(B) Maximize profit while defending market share

(C) Build awareness and interest in the mass market

(D) Diversify brand and items models

(E) Price to penetrate market

Choose the most appropriate answer from the options given below:

Question

Question

This question was previously asked in

UGC NET Paper 2: Management 29 Oct 2022 Shift 2

Answer 1

The option is

A) Build intensive distribution

(C) Build awareness and interest in the mass market

(E) Price to penetrate the market

Key Points

Important Points \Stages Of Product life cycle

1)Introduction

a new product introduced and people are unaware of this product and there is a requirement to take proper promotion measures to popularize the product among the customers.

2)Growth

As result, rapid promotion measures the demand for the product increasing and the price level decreasing.
The competitors who entered with new products and in order to compete with them need to take proper promotion measures there so they can achieve the growth of the products.

3)Maturity

as a result of stable promotions and marketing measures, the product become more popular and it had stable demand in the market the sales will increase at decreasing rate and the market having many competitors
The business remains attractive as a result of prior promotions and development measures.

4)Saturation

5)Decline

as a result of the rapid decline in sales volume, the business become incompetent
business no longer sustain in the market they will sell out the business or product or by declining the investment for the particular product category.

Hence the correct answer is

A) Build intensive distribution

(C) Build awareness and interest in the mass market

(E) Price to penetrate the market

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