Marketing MBA BBA

Growth stage of product life cycle

IT chymes .
@ | Posted 21 Sep. 2017

In this stage, the product achieves considerable and widespread approval in market. Sales increases sharply and at an increasing rate. The number of competitors increase considerably. This stage is characterised by:

  • Increase in competition
  • Increased volume of sales
  • Improvement in the quality of the product
  • Price reduction
  • Reduction in the promotional expenditure to sales ratio