In which stage do businesses typically need to adapt or find new ideas to maintain sales?

The maturity stage is characterized by a slowdown in sales growth as the product reaches its peak market penetration. During this stage, businesses often encounter increased competition and market saturation. To sustain sales and profitability, companies must adapt their strategies by innovating or finding new ideas, whether that involves enhancing their product offerings, improving marketing efforts, or exploring new market segments. This need for adaptation is crucial as it helps businesses to differentiate themselves in a crowded market, counteract diminishing sales growth, and extend the product's lifecycle.

In contrast, during the growth stage, businesses are typically focused on expanding their market share and ramping up production, while in the saturation stage, they may be facing a plateau in sales but often do not yet experience a decline. The decline stage involves falling sales, where businesses must make more drastic changes to survive, often leading to exiting the market rather than simply adapting to maintain sales.