The phase associated with the situation when the product is being produced in high volumes but only by a few large companies is to be determined. Concept Introduction: Every new product, has a life cycle consisting of 4phases viz. introduction, growth, maturity and decline. Each phase, short or long depending on the product, has its own characteristics which guide the marketing/pricing strategies. Introduction can also be called incubation.

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Chapter 2, Problem 4P

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Interpretation:The phase associated with the situation when the product is being produced in high volumes but only by a few large companies is to be determined.

Concept Introduction:Every new product, has a life cycle consisting of 4phases viz. introduction, growth, maturity and decline. Each phase, short or long depending on the product, has its own characteristics which guide the marketing/pricing strategies. Introduction can also be called incubation.

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