The product life cycle in Figure 1 shows sales of a product over time - Edexcel - GCSE Business - Question 1 - 2015 - Paper 1
Question 1
The product life cycle in Figure 1 shows sales of a product over time. What is Phase 2 called?
Select one answer.
- A Growth
- B Decline
- C Maturity
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Worked Solution & Example Answer:The product life cycle in Figure 1 shows sales of a product over time - Edexcel - GCSE Business - Question 1 - 2015 - Paper 1
Step 1
What is Phase 2 called?
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Answer
Phase 2 of the product life cycle is called Growth. In this phase, sales begin to increase as the product gains market acceptance and the company starts to invest more in marketing and distribution strategies.
