Respuesta :
The distinction between the introduction and growth stages of the industry life cycle is adequately described by the statement that there is greater competition in the growth stage as opposed to the introduction stage.
The term "product life cycle" describes the period of time from when a product is first made available to consumers until it is taken off the market. Management and marketing professionals use this idea as a decision element when determining whether it is suitable to enhance advertising, lower prices, enter new markets, or change the packaging. Product life cycle management is the process of planning out how to consistently support and sustain a product.
Customers are first exposed to the new product during the introduction phase. In general, a business must make a sizable investment in marketing initiatives that educate consumers about the product and its advantages, especially if the product's potential uses are not widely known.
The product gains in popularity and recognition throughout the growth phase. Even if a product confronts intense competition, a corporation may nevertheless decide to invest extensively in advertising.
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