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Usually, during the stage of the product life cycle, the typical consumers are early adopters, and there are increases in the number of competitors.

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Solution

The stage of the product life cycle that you're referring to is the "Growth" stage. Here's the step by step explanation:

  1. Introduction Stage: This is when the product is first launched after development and testing. The typical consumers in this stage are known as innovators. The number of competitors is usually low as the product is new to the market.

  2. Growth Stage: This is the stage you're referring to. After the product has been accepted by the innovators, early adopters start to use the product. These are people who start using the product once they see others using and benefiting from it. The number of competitors starts to increase in this stage as other companies start to notice the product's success and try to get a share of the market.

  3. Maturity Stage: At this point, the product has reached its peak. The typical consumers are the early majority and the late majority. The number of competitors is high as many companies are now in the market with their versions of the product.

  4. Decline Stage: This is when the product starts to see a decrease in consumer interest and sales. The typical consumers at this stage are the laggards, who are the last to adopt a new product. The number of competitors starts to decrease as companies start to phase out the product.

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