Question

Consider how a sophisticated buyer can affect the maturity stage of goods’ product life cycle. Can you provide an example of a good that experienced dramatic decline due to the sophistication of buyers’ knowledge?

Answer 1

Maturity stage is the stage of the product life cycle where the product seems to be on the declining side of the sales. At maturity stage, the product already has the wide acceptance in the market but later on, its sale tends to decline.

Sophisticated buyer can alter the maturity stage in many ways, they start evaluating different option in the market and also tend to try the new alternate thing available in the market, he or she starts comparing the feature it has with the new alternatives available in the market. Hence in this way, the sophisticated buyer can alter the PLC of the maturity stage.

The example is the use of the Window smartphone in the market, Customer/buyer soon starts exploiting the new android option in the market and hence post maturity stage, sales of the window phone declined.