Respuesta :
In the product life cycle, growth stage is characterized by a rapid increase in sales and the appearance of competitors.
The growth stage follows if the product is a success. It is distinguished by increasing demand, rising production, and expanding availability. Different industries and products will require different lengths of time for a company's product to enter the growth phase.
The product's popularity and recognizability increase during the growth phase. Even if a product faces fierce competition, a company may still decide to spend a lot of money on advertising. Instead of introducing their products to the market, marketing campaigns are more likely to focus on how their product stands out from the competition. A company may also improve a product's functionality in response to customer feedback.
The growth stage of the product life cycle has a positive financial impact on revenue and sales. As rival products are offered by the competition, there is more competition, which could force the company to lower its prices and experience lower margins.
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