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What are the four stages of the product life cycle in order?
AGrowth, introduction, maturity and then decline
BIntroduction, maturity, growth and then decline
CIntroduction, growth, decline and then maturity
DIntroduction, growth, maturity and then decline
Answer & Solution
Correct answer: D. Introduction, growth, maturity and then decline
1. The cycle opens with the introductory stage when the product first enters the market.
2. A product that survives introduction advances to the growth stage.
3. After growth, sales keep rising at a decreasing rate, which is maturity.
4. When sales and profits fall the product has reached decline and possibly death.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.8 The Product Life Cycle_
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