Which stage of the product life cycle has the ‘Executive’ model of suitcases reached?

AAA manufactures and sells a range of travel suitcases. One model, the ‘Executive’ has seen sales growth of around 3% for the last two years, following strong growth since its introduction eight years ago. This slow down in the ‘Executive’ sales growth is largely due to AAA’s competitors offering products in direct competition with the ‘Executive’. AAA has therefore had to reduce its price to match those of its major competitors. AAA has also recently upgraded the features of the ‘Executive’ model to include a variety of different colours and materials. It has also launched a marketing campaign to promote the benefits of the ‘Executive’ model against its competitors products.

Which stage of the product life cycle has the ‘Executive’ model of suitcases reached?
A . Introduction
B . Growth
C . Maturity
D . Decline

View Answer

Answer: C