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?
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.