Final answer:
In the maturity stage of the life cycle, industry sales peak and companies rejuvenate their products by adding new features or repositioning them to maintain competitiveness and adapt to market conditions.
Step-by-step explanation:
During the maturity stage of the life cycle, industry sales reach the peak, so firms try to rejuvenate their products by adding new features or repositioning them. This is done to maintain a competitive edge in the market and prevent the product from becoming outdated due to consumers' evolving preferences and technological advancements. The process of adding new features or repositioning a product is often a necessary response to the saturated market conditions that characterize the maturity stage.
At this stage, companies may invest in research and development to innovate and enhance their product offerings. This strategy aims to stimulate customer interest and prolong the product's life cycle. It also reflects the continuous need for firms to adapt in a dynamic market where consumer behavior and competition drive product evolution.