What stage follows the introduction phase in the product life cycle?

After the introduction phase in the product life cycle, the growth stage typically follows. During the growth stage, a product has established a foothold in the market and begins to see increasing sales and customer acceptance. This stage is characterized by rising revenues as the product gains popularity, improved marketing efforts may be evident, and distribution channels become more effective.

Businesses often focus on enhancing their product features and expanding their market share during this phase, building brand loyalty and capturing more consumers. The success in this stage can set the stage for further market presence, often leading into the maturity phase where sales growth stabilizes, but the growth stage is crucial for establishing a product's viability in the market.

The other stages mentioned—decline, maturity, and saturation—occur later in the product life cycle and involve different dynamics regarding sales, market perception, and strategic focus. Therefore, identifying growth as the immediate next phase after introduction is key to understanding the progression of a product's journey in the competitive landscape.