NTA-NET (Based on NTA-UGC) Commerce (Paper-II): Questions 1 of 1032

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Question

Market modification and product modification strategies used in which stage of “PLC”,

Choices

Choice (4) Response

a.

Introduction stage

b.

Maturity stage

c.

Growth stage

d.

Decline stage

Answer

b.

Explanation

  • During maturity stage, it is characterized by a continuous decline in the growth rate of its sales volume due to more competitors, therefore, Market modification and product modification strategies used in maturity stage of “PLC”.
  • On the other hand, Introduction stage is the first stage of the PLC and started with the launching of new product in the market.
  • Growth is the stage during which the product is accepted by consumers characterized by a rapid increase in its sales volume and profits. Decline is the final stage of the product, at that time product becomes obsolete in the market.

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