Which two of the following occur in the market maturity stage of the product life cycle?

Question

Multiple select question.

Competition gets tougher.

Competition is removed.

Industry sales increase.

Industry profits decline.

Answer 1

In the market maturity stage of the product life cycle, the following two occur:

1. Competition gets tougher. - As the market matures, more competitors enter the field, leading to increased competition.

2. Industry profits decline. - As competition intensifies and price wars may ensue, profit margins often decrease during the maturity stage.

So, the correct choices are "Competition gets tougher" and "Industry profits decline."