Growth stage - product life cycle, Marketing Management

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Growth Stage

The growth stage is the manufacture life-cycle stage during which a product's sales begin climbing rapidly.

Early adopters will continue purchasing and later buyers will begin following their lead.
New competitors can enter the market and introduce fresh product features.
Prices will remain where they are or fall just slightly.
The market will costly.
Companies keep their promotion spending at the similar or at a slightly higher level.
Profits rise.
Educating the market remains a goal, but the company ought to also meet the competition.
The firm faces a trade-off among high market share and high current profit.

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