NTA-NET (UGC-NET) Management (& Allied Subjects) (17): Questions 1 of 3339
Question MCQ▾
Market modification and product modification strategies used in which stage of “PLC” ,
Choices
Choice (4) | Response | |
---|---|---|
a. | Decline stage | |
b. | Growth stage | |
c. | Introduction stage | |
d. | Maturity stage |
Answer
d.
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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