Question

what happens during the maturity stage of the product life cycle? multiple choice promotion costs climb, and competitors cut prices to attract business. management considers pruning items from the product line to eliminate unprofitable ones. marketing strategy typically encourages strong brand loyalty. prices are usually high, sales are low, and development, promotion, and distribution costs are high.

Answer 1

In the maturity stage of the product life cycle, management looks at removing unprofitable items and marketing strategies focus on building strong brand loyalty to maintain market share.

Step-by-step explanation:

During the maturity stage of the product life cycle, various strategic moves are considered by businesses to maintain the product's market share. One key activity is that management considers pruning items from the product line to eliminate unprofitable ones. This is pivotal as it helps in streamlining the product offerings and maintaining profitability. Also, the marketing strategy in this stage often focuses on encouraging strong brand loyalty to retain the existing customer base. This includes efforts such as loyalty programs, targeted promotions, and enhancing product features that are valuable to consumers.