What are two key characteristics of the introduction stage of the product life cycle?

Question

Multiple select question.

minimal profit

high profit

fierce competition

high demand

slow growing sales

Answer 1

The two key characteristics of the introduction stage of the product life cycle are:

1. Minimal profit - During the introduction stage, expenses related to product development, marketing, and distribution are usually high while sales volume is still low, leading to minimal profits.

2. Slow growing sales - Sales growth tends to be slow during this stage as the product is just being introduced to the market and consumers are not yet fully aware or convinced of its value.

So, the correct selections are minimal profit and slow growing sales.