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Karat packaging has entered a stage in which the demand for their innovative fax machines has declined. now most customers are buying replacement parts or buying their second fax machine from the firm. what stage in the industry life cycle does this scenario describe

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gauravsingh23VT

Karat fax machines have reached maturity. Because sales have dropped and people are only ordering replacement parts or a second fax machine, this is the reason. The product is either rejected or only repaired at the maturity phase. There aren't many new sales.

What is maturity stage in product life cycle?

Maturity level in the product life cycle is the stage where the sales of product of the company starts declined because of the new trends and innovation in the market.

At this stage of maturity, The company must go for the heavy discounts and low in the price levels to stay competitive in the marketplace and at least take out their invested amount from sales.

Thus, Karat fax machines have reached maturity.

For more details about maturity stage in product life cycle, click here:

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