Question

Which of the following statements about the maturity stage of the industry life cycle is true

A. Demand for the product increases.
B. The market has many competitors, each competing for a piece of the pie.
C. Product innovation becomes the most important competitive weapon.
D. Only a few large firms remain.

Answer 1

The correct statement about the maturity stage of the industry life cycle is that the market has many competitors, each competing for a piece of the pie.

Step-by-step explanation:

The correct statement about the maturity stage of the industry life cycle is B. The market has many competitors, each competing for a piece of the pie.

In the maturity stage, the market is characterized by a high level of competition with many firms vying for market share. This competition leads to price competition and a focus on gaining market share. This stage is often marked by slower growth in demand and a saturation of the market.

For example, in the automobile industry, there are numerous car manufacturers competing for customers, each offering different models and features to attract buyers.