What stage follows 'Growth' in the product life cycle?

In the product life cycle, the stage that follows 'Growth' is 'Maturity.' During the Growth stage, a product begins to gain market acceptance, leading to increasing sales and profitability. As the product continues to be successful, it eventually reaches the Maturity stage, where sales growth slows down and stabilizes. This is characterized by a peak in sales volume as the market becomes saturated with the product. Companies may then focus on differentiation, enhancements, or cost reductions to maintain market share.

'Introduction' occurs prior to Growth, when the product is first launched and sales are typically low. 'Decline' signifies a stage where sales begin to fall, usually due to market saturation, changing consumer preferences, or the introduction of superior alternatives. 'Saturation' might suggest a scenario where the market is fully penetrated, but it is often considered a characteristic of the Maturity stage rather than being a standalone phase of the life cycle. Thus, Maturity is the correct answer as it directly follows the Growth stage in the product life cycle.