Johnson Controls (JC) is finally earning a profit on a new product it introduced to business buyers a year ago. More and more customers are purchasing the product, and the product faces little serious competition. Industry competitors have begun to take notice, however, and have recently introduced competing products. In which stage of the product life cycle is Johnson Controls operating?

Question

Johnson Controls (JC) is finally earning a profit on a new product it introduced to business buyers a year ago. More and more customers are purchasing the product, and the product faces little serious competition. Industry competitors have begun to take notice, however, and have recently introduced competing products. In which stage of the product life cycle is Johnson Controls operating?
Multiple choice question.

Sales decline

Market development

Market introduction

Market growth

GPT-4o mini · Answer

Johnson Controls is operating in the **Market growth** stage of the product life cycle. In this stage, the product is gaining traction in the market as more customers make purchases, and the company is starting to see profitability. Although competitors are beginning to enter the market, the key indicator is that the product is experiencing increasing sales and catching the attention of competitors, which is characteristic of the market growth phase.