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  • 22-01-2021
  • Social Studies
contestada

Time when a new product is first brought to the market.

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looringhighjump
looringhighjump looringhighjump
  • 27-01-2021

Answer: introduction stage

Explanation:

The introduction stage is the initial step in the product life cycle. In this stage, a business strives to raise awareness about the product or service to be sold. At this stage, there is little and even no competition.

Given that the product is new to the market, sales will probably be slow during this stage, so substantial investment in advertisements is required to ensure sales growth.

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