Price competition starts to occur in ___________ phase of the product life cycleSelect one:a.Introductionb.Growthc.Saturationd.Decline

Price competition typically starts to occur in the Saturation phase of the product life cycle.

Here's why:

a. Introduction: During this phase, the product is new in the market, and there's often little to no competition. The focus is usually on promoting the product to create awareness.

b. Growth: In this phase, the product starts to gain acceptance, and sales increase. While there may be some competition, it's often not the main focus as companies are more concerned with capitalizing on the growing demand.

c. Saturation: This is when the product has reached its peak in the market. At this point, there are likely many competitors offering similar products. To maintain or increase market share, companies often have to compete on price.

d. Decline: In this phase, demand for the product starts to decrease. While there may still be price competition, the focus often shifts to managing the decline and phasing out the product.