Benny's Baos had an edge in the market, but other companies began to enter the market. Benny is now losing customers even though he has launched an aggressive marketing campaign in an attempt to attract customers. Benny's Baos is likely in the ______ stage of the industry life cycle.

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21-02-2022
Business

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Benny's Baos had an edge in the market, but other companies began to enter the market. Benny is now losing customers even though he has launched an aggressive marketing campaign in an attempt to attract customers. Benny's Baos is likely in the ______ stage of the industry life cycle.

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Tundexi Tundexi · Answer 1 · 2022-03-07T09:55:52+01:00

Since the company is losing customers despite aggressive marketing campaign, then, it is most likely in the decline stage of the industry life cycle

What is an industry life cycle?

The industry life cycle is a cycle that depict the an industry based based on the business characteristics in different phases.

The phases of the industry life cycle includes:

introduction
growth
maturity
decline stages.

In conclusion, because the company is losing customers despite aggressive marketing campaign, then, it is most likely in the decline stage of the industry life cycle.