Kerry Has Been Analyzing the Competitive Standings of One of Her

question 25

Multiple Choice

Kerry has been analyzing the competitive standings of one of her products.Since she began her operation,20 similar products have appeared,forcing her to change distribution strategies.Kerry has also changed pricing strategies in order to remain competitive.Sales volume has dipped,and she suspects sales of her product have reached a saturation level.This item is in which of the following stages of the product life cycle?

• A)Decline stage
• B)Growth stage
• C)Maturity stage
• D)Introductory stage

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Definitions:

Value Barrier

Challenges or factors that limit the perceived worth or utility of a product or service to potential customers.

New-Product Adoption

The process by which consumers or businesses start using a new product, potentially going through stages from awareness to acceptance and regular use.

Cereal Bar

A snack or breakfast food made from cereals and various additives, often sweetened and packaged for convenience.

Product Modification

Involves altering one or more of a product’s characteristics, such as its quality, performance, or appearance, to increase the product’s value to customers and increase sales.