During which stage of the product life cycle do sales begin to peak?

The maturity stage of the product life cycle is characterized by sales reaching their peak. At this point, the product has gained widespread acceptance in the market, and consumer demand has stabilized. Companies often experience high sales volumes, but the growth rate begins to slow down as the market becomes saturated. This stage highlights the importance of brand loyalty and differentiation, as competition intensifies among established products.

During the maturity stage, businesses may focus on maintaining market share and optimizing profits, as the opportunities for significantly increasing sales diminish. This is contrasted with the growth stage, where sales are rapidly increasing as the product gains market traction, and in the introduction stage, where initial sales are generally low as the product is being launched. The decline stage follows maturity and is marked by a decrease in sales as the market shifts or consumer preferences change.