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

Question

Multiple select question.

increasing competition

declining profits

marketers stimulating primary demand

rapid increase in sales

decrease in repeat buyers

Answer 1

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

1. Increasing competition - As the product gains acceptance in the market, more competitors will enter the market, trying to capture a share of the growing demand.

2. Rapid increase in sales - During the growth stage, the product typically experiences a significant increase in sales as more consumers become aware of and begin purchasing the product.

The other options, such as declining profits, marketers stimulating primary demand, and a decrease in repeat buyers, are not characteristic of the growth stage.