Question

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.a. Levelingb. Growthc. Maturityd. Introductione. Decline

Answer 1

Answer:

b. Growth.

Explanation:

The given Example is of the growth stage of the product life cycle and this the key stage of product life cycle where in manufacturers can establish position of the product in the market.

Growth stage accounts for

-increase in the competition

-lower prices

- different marketing approaches by different companies.

Customers are in benefit because of growth stage as the prices are reduced and the consumer awareness is increased.