Question

Select the most appropriate stage of the life cycle for the situations below.
1. New yield-enhancing rice product with no direct competitors
2. Tractor part that is not profitable due to heavy R

Answer 1

Answer:

1) The new yield-enhancing rice product is at its introduction stage.

2) The tractor part is also at its introduction stage.

Explanation:

The introduction stage is the first stage of a product's life cycle, it follows product development. At this stage the product is just being released, therefore sales are slow, marketing expenses are high, and profits are scarce or nonexistent. The company will try to build awareness about the product through heavy advertising.