Question

An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has become quite elastic--as consumers see competing products as almost homogeneous. Several firms have dropped out. What is the life cycle stage?a. Market maturity
b. Sales decline
c. Market growth
d. Market introduction
e. Product renewal

Answer 1

Answer: (A) Market maturity

Explanation:

The market maturity is one of the stage in the product life cycle where is basically refers to the sales growth where the product sales growth get increased and then suddenly get slows down.

The market maturity stage is basically known as the longest stage in the product life cycle. In this life cycle stage the organization reaches to the highest level during the demand cycle.

Therefore, Option (A) is correct.