Question

Which stage in the product life cycle is still relatively experimental—a "test" of the market?

a) Introduction
b) Growth
c) Maturity
d) decline

Answer 1

The Introduction stage of the product life cycle is experimental and serves as a market test, focused on attracting early adopters and adjusting based on consumer feedback.

Step-by-step explanation:

a) Introduction

The stage in the product life cycle that is still relatively experimental and can be considered a "test" of the market is the Introduction stage. This phase characterizes the period when a product is launched and initially distributed in the market. Companies focus on promoting their new products and may encounter some challenges such as low sales volume, high costs, and limited competition due to the novelty of the offering.

Various strategies are implemented to attract early adopters and gain market acceptance. It is an essential phase where consumer feedback is solicited, and adjustments to the product or marketing strategies are likely to occur based on the market's reaction.