A hiking boot’s profits are declining because new competition has entered the market, but its cost has also declined due to increased volume of production. What stage of the product development life cycle is the hiking boot in?.

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30-11-2022
Business

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A hiking boot’s profits are declining because new competition has entered the market, but its cost has also declined due to increased volume of production. What stage of the product development life cycle is the hiking boot in?.

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Tutorconsortium410 Tutorconsortium410 · Answer 1 · 2022-12-02T18:42:44+01:00

A hiking boot’s profits are declining because new competition has entered the market, but its cost has also declined due to increased volume of production that means it is in Maturity stage.

A product? Why do you say that?

A product is any good or service you provide to meet a customer's need or desire. Both actual and virtual ones exist. Physical products include both long-lasting items (like furniture, computers, and automobiles) and short-lasting ones (like food and beverages).

Why are product descriptions so important?

Product descriptions assist customers in making decisions. They also make your website appear more professional because it would be silly to merely display products and their pricing without giving the customer any information about them.

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