Consider the following statements about Product Life Cycle: 1. In maturity stage, firms often focus on differentiation and market modification strategies. 2. In decline stage, firms always exit the m…

Question

Consider the following statements about Product Life Cycle: 1. In maturity stage, firms often focus on differentiation and market modification strategies. 2. In decline stage, firms always exit the market immediately. 3. Growth stage is characterized by increasing competition and market expansion. Which is correct?

PYQPulse · Accepted Answer

Only 1 and 3

Answer: B. Only 1 and 3