Which of the Following Statements Is True Regarding the Introduction

question 123

Multiple Choice

Which of the following statements is true regarding the introduction stage of the product life cycle?

• A)It is marked by a rapid growth in industry sales and also an increase in the number of competitors.
• B)At this stage, firms attempt to reach new customers by studying their preferences and producing different product variations.
• C)It usually starts with a single firm, and innovators form the main category of buyers.
• D)It is characterized by intense competition for market share by firms, which leads to an increase in marketing costs.
• E)It is marked by a growing number of product adopters and also an increase in the number of product versions available.

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Definitions:

Retailing

The selling of goods or services directly to consumers, typically in small quantities.

Wholesaling

The business practice of selling goods in large quantities at lower prices to retailers or other entities, who then sell them to end consumers.

Importing/Exporting

involves the buying of goods or services from a foreign country (importing) or selling goods or services to a foreign country (exporting).

New Jobs

Positions of employment that are created as a result of economic growth, innovation, or changes in the marketplace.