What is a characteristic of the introduction stage in the product life cycle?

In the introduction stage of the product life cycle, the primary characteristic is the launch of the product and the initial marketing efforts to create awareness. During this phase, a company introduces a new product to the market, aiming to inform potential customers about its features, benefits, and uses. Marketing strategies typically focus on building product awareness and stimulating trial among early adopters. This stage often involves significant investment in marketing and advertising to establish a market presence and encourage initial sales.

Sales stabilization, feature enhancement, and price reductions are activities that occur at later stages of the product life cycle. Sales stabilization usually happens after the product has been established within the market and begins to see stable sales. Feature enhancement takes place when a product is already in the market and businesses look to improve or differentiate it based on customer feedback or competitive pressures. Price reductions are often strategies employed in the maturity stage to maintain market share against increased competition.