Which stage in the industry life cycle is characterized by many different product variations?
Which stage in the industry life cycle is characterized by many different product variations?
The growth stage in the industry life cycle is characterized by many different product variations. During this phase, companies experience rapid increases in sales and try to capture market share by introducing different versions of their products to appeal to a broader range of customers. Firms innovate and diversify their offerings to stand out in a competitive market and meet varying consumer demands.
The stage in the industry life cycle that is characterized by many different product variations is C. Maturity. During the maturity stage of the industry life cycle, the market becomes saturated, and competition intensifies. As a result, companies start to differentiate their products to appeal to specific customer segments and gain a competitive edge. This differentiation often leads to the introduction of various product variations within the industry. In the maturity stage, companies seek to maintain or increase market share by offering different features, options, or variations of their products to cater to diverse customer preferences. This strategy allows them to attract new customers, retain existing ones, and differentiate themselves from competitors. Therefore, the correct answer is C. Maturity.
I dont understand, why A and not B?