In the _________ Stage of the Product Cycle,competition Is Fierce

question 61

Multiple Choice

In the _________ stage of the product cycle,competition is fierce and profit margins are razor thin.

• A)New product
• B)Maturing product
• C)Standardized product
• D)Innovating
• E)Absolution

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Definitions:

Category Killer

A specialist that offers an extensive assortment in a particular category, so overwhelming the category that other retailers have difficulty competing.

Staples

Basic or essential goods that are widely used and regularly purchased, such as food, clothing, and hygiene products.

Very Specific Market Segments

Very Specific Market Segments target a narrowly defined, highly specialized portion of a broader market, focusing on particular consumer needs.

Department Stores

Large retail establishments that offer a wide variety of goods in different categories known as "departments" within the same store.