The growth stage is the second stage of the product life cycle (PLC), in which sales of the product begin to increase rapidly. Early adopters continue to buy, and more and more new consumers adopt the product. Profits also increase as promotional costs are spread over a larger volume.
In this stage, the company can undertake several strategies to sustain growth: improving product quality, adding new features, entering new market segments, and increasing distribution coverage. The goal is to maximize market share before strong competition emerges.
