Increased competition leads to price decrease, increasing public awareness, sales volume increase significantly are the characteristics of ______________ in PLC.
Question
Increased competition leads to price decrease, increasing public awareness, sales volume increase significantly are the characteristics of ______________ in PLC.
Solution
The characteristics you described are typically associated with the Growth stage in the Product Life Cycle (PLC).
In the Growth stage, the product gains acceptance, demand rapidly increases, and competition begins to increase as well. This leads to a decrease in prices due to the competitive pressure. Additionally, public awareness of the product increases, leading to a significant increase in sales volume.
Similar Questions
Which of the following is not a positive outcome of increased competition for a business?YOUR ANSWERYour AnswerAn increase in revenue and a decrease in costs.Decreased cash flow and difficulties repaying loans.Decreased revenue due to lower prices and quantity sold.Falling profit and reduced profit margins.
Multiple Choice QuestionThe growth stage of the PLC is characterized byMultiple choice question.increased competitionproduct augmentation and repositioningslow sales growtha decline in profit
Which of the following stages of the PLC is characterized with high promotionalexpenditures that result from an effort to create consumer awareness?A.GrowthB.Product developmentC.MaturityD.Introduction
If a monopolistically competitive seller can convince buyers that its product is of better quality and value than products sold by rival firms, all of the following occur EXCEPT _______________.a.demand increases.b.the firm gains more control over its pricec.demand becomes more inelastic.d.demand becomes perfectly elastic.
Which of these results in an increase in both price and quantity?A.A demand increaseB.A supply increaseC.A demand decreaseD.A supply decrease
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