A Barbadian manufacturer of pepper sauce notices that several local competitors have entered the market. According to the product life cycle, the manufacturer is MOST likely in which stage?

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Question

A Barbadian manufacturer of pepper sauce notices that several local competitors have entered the market. According to the product life cycle, the manufacturer is MOST likely in which stage?

Accepted Answer

Growth — Award 1 mark for identifying the Growth stage, which is characterised by increasing competition as other businesses recognise market potential. D is incorrect — introduction stage typically has few or no competitors. B is incorrect — maturity shows stable competition with market saturation. C is incorrect — decline shows competitors exiting the market.

Answer

Maturity

Answer

Decline

Answer

Growth

Answer

Introduction

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