Which of the Following Is an Example of a Product

question 24

Multiple Choice

Which of the following is an example of a product in the maturity stage of the product life cycle?

• A)digital cameras
• B)hybrid vehicles
• C)3D HDTV
• D)soft drinks
• E)digital music players

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Definitions:

Few Substitutes

Describes a market condition where there are limited alternative products or services, often leading to higher prices and less competition.

Barriers To Entry

Factors that prevent or restrict new competitors from easily entering an industry or area of business.

Barriers To Exit

Factors that prevent or deter a firm from leaving a market or industry, including high exit costs or contractual obligations.

Patent Protection

Legal measures that grant inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.