Question:
Which of the following best describes the biotechnology product life cycle, including the stages of introduction, growth, maturity, and decline? Group of answer choices Introduction: Market research is conducted; Growth: Product is developed; Maturity: Product is introduced to the market; Decline: Sales increase. Introduction: Product is developed and marketed; Growth: Sales increase slowly; Maturity: Market saturation occurs; Decline: New technology replaces the product. Introduction: High initial sales; Growth: Sales stabilize; Maturity: Sales peak; Decline: Product becomes obsolete. Introduction: Product is launched with limited awareness; Growth: Rapid increase in sales; Maturity: Sales plateau and competition increases; Decline: Sales diminish as the product becomes outdate