PRC-3 · Chapter 7 · Question 5 of 72
When a completely innovative tech gadget is first introduced to the public, advertising costs are massive to educate the consumer, and sales revenue is initially quite low. What stage of the Product Life Cycle is this?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Introduction
Explanation
In the introduction phase, the product is being launched into the market. Costs are high due to initial marketing efforts, and sales volume is low as product awareness builds.
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