Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. this happens during which stage of the product life cycle?

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Business

Khalil Orr

16 October, 03:47

Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. this happens during which stage of the product life cycle?

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Heath Reeves · Answer 1

This happens during the growth stage of the product life cycle. People already know about the project and are buying it, so other companies want to get in on the action and make competing products. Furthermore, people know about the product and want it, and they have to increase the price to compete against the competitors.