CIPS Procurement and Supply Environments (L3M1) Practice Test

Question: 1 / 400

What is a key characteristic of the maturity stage of the product life cycle?

Rapid growth in market share

Stable sales with a high level of competition

In the maturity stage of the product life cycle, stable sales characterize this phase, indicating that the product has reached its peak in market penetration. During maturity, the product is well-established in the market, leading to a consistently high level of competition as multiple players strive for market share. Companies often focus on differentiating their offerings and enhancing customer loyalty to sustain revenues amid a crowded market.

The maturity stage represents a critical period where sales growth has slowed significantly compared to the rapid expansion seen in the growth stage, and the market is generally saturated. As such, marketing strategies may shift toward maintaining the existing customer base and optimizing operational efficiencies rather than aggressive growth tactics.

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Declining sales and product reevaluation

Introduction of new supporting products

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