Question

Which of the following stages of the product life cycle features new competitors that enter the market creating new variations of the product?

Option 1: Introduction.
Option 2: Growth.
Option 3: Maturity.
Option 4: Decline.

Answer 1

The Growth stage of the product life cycle features new competitors that enter the market creating new variations of the product.

Step-by-step explanation:

The stage of the product life cycle that features new competitors entering the market and creating new variations of the product is the Growth stage.

In this stage, the product is gaining popularity and reaching a wider customer base. As a result, new competitors start to enter the market to take advantage of the growing demand. These competitors may offer similar products with slight variations to differentiate themselves from existing brands and attract customers.