Answer to Question #259899 in Marketing for Gert

Question #259899

Discuss the product lifecycle phase which the CBD oil market is in currently within the South African market?



And why it is in that phase?

1
Expert's answer
2021-11-02T12:16:01-0400

A product lifecycle phase that CBD oil market is currently in within the South African market is introduction phase. Introduction phase is the first phase in the product life cycle where a company tries to build awareness about the product or service in a market where there is less or no competition. This phase of the cycle could be the most expensive for a company launching a new product, but it plays an important role.


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