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GCSE Business · key term
The stage when a product's sales increase rapidly as more customers buy it.
Used by AQA and OCR
Paper 2
Revise: The Product Life Cycle and Extension StrategiesDuring growth, sales increase rapidly as more customers become aware of the product and decide to buy it. Recommendations and repeat purchases can help demand grow.
Paper 1
The stage when a product's sales increase rapidly as demand grows.
Revise: Product Life Cycle StagesThe product life cycle describes this changing pattern of sales through four stages: introduction, growth, maturity and decline.
Slow sales growth could indicate introduction or maturity: a recent launch with low sales suggests introduction; established high sales suggest maturity.
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