Answer:
The missing word is "maturity" stage.
Explanation:
In the maturity stage of the product life cycle, consumer packaged goods, commonly found in grocery and discount stores in the United States, have already gained widespread acceptance among consumers, including the late majority. This stage is characterized by stable sales growth and intense competition among firms vying for market share. Companies focus on strategies like product differentiation, pricing adjustments, and marketing efforts to retain existing customers and attract competitors' customers. Innovation becomes crucial to sustain competitiveness, with companies introducing variations or improvements to rejuvenate consumer interest. Successful navigation through this stage requires strategic planning and a deep understanding of consumer needs and market dynamics.
