Which of the following is a stage of a product's life cycle?

The correct answer is maturity, which is a recognized stage in a product's life cycle. The product life cycle outlines the progression of a product through various phases from its introduction to its eventual decline.

During the maturity stage, a product has reached its peak market penetration. Sales growth slows or stabilizes as the market becomes saturated. Competitors often emerge at this stage, and businesses may focus on differentiation to maintain market share. Marketing strategies may shift to emphasize brand loyalty or minor product enhancements to attract customers, as the initial excitement surrounding the product has typically waned.

Understanding this stage is crucial for businesses, as they must adapt their marketing and operational strategies to sustain profitability. The other stages, such as introduction and decline, also play essential roles but do not represent the specific characteristics and challenges that define maturity.

In summary, maturity is a vital phase in the product life cycle that signifies established market presence, while other options refer to concepts not typically associated with the established product lifecycle framework.