Question

Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the PLC.

Answer 1

B) Maturity stage

Step-by-step explanation:

The product life cycle are

1) Introduction stage

2) Growth stage

3) Maturity stage

4) Decline stage.

Maturity is the third stage of product life cycle is a challenging stage for manufacturers when the manufacturers want to maintain the product market in the midst of different form of challenges. The business has grown from introduction stage to Maturity stage. At this stage, any form of challenges that affect the business might bring the business into the decline stage.

Craft inc.'s Krayon is in the Maturity stage where they are faced with the challenges of competition. Competitors tend to lower their prices and increase advertisement an promotions in order to sell more than Craft inc.'s.

Answer 2

Step-by-step explanation:

Answer is - maturity stage

The maturity stage of the product life cycle shows that sales will eventually peak and then slow down. During this stage, sales growth has started to slow down, and the product has already reached widespread acceptance in the market, in relative terms.

As it is given, company has had remarkable sales but over the last few years, sales of Krayons have been stagnant. Hence, company is in the maturity stage.