Question

what are the responses to challenges at each stage of the business life cycle.

Answer 1

Responses to the challenges at each stage of business life cycle are -

1. Introduction - At first it is needed to create market acceptibility of a product at introduction cycle so presentation of products through different networks are important .

2. Growth - At this stage it is important to come up better advertisements and consumer communication as number of consumer grows suddenly .

3. Maturity - At this stage, product has matured and there is not much scope for further development , so focus is to provide better facilities to retain existing customers.

4.Decline - At this stage , product has become obsolete so it is important to come up with a nice exit strategy to generate optimum revenue for disposal.