Examlex
Although products that remain in the maturity stage of the PLC seem unchanged, the most successful ones actually evolve to meet changing consumer needs.
Commercialization
The process of taking a new product or service to the market, introducing it to consumers, and making it available for purchase.
Test Marketing
The process of launching a new product or service to a limited geographical area to gauge its viability before a full-scale launch.
Maturity Stage
A phase in the product life cycle where sales growth slows down, and the product is well established in the market.
Growth Stage
A phase in the product life cycle characterized by rapid market acceptance and increasing profits.
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