Which stage shows a product's peak in consumer acceptance before declining?

The maturity stage is characterized by the peak in consumer acceptance of a product. During this phase, sales volumes reach their highest levels, and products are well-established in the market. Consumers are familiar with the product, and competitive offerings are also widespread, leading to high market penetration.

This stage typically follows the growth stage, where the product experiences rapid market acceptance and increasing sales. In the maturity stage, growth rate stabilizes as the market saturates, but brand loyalty may still keep sales high. However, it is common for companies to face increased competition and price pressure, which can lead eventually to a decline.

Understanding this stage is crucial as it indicates when firms should focus on differentiation, expanding product features, or exploring new markets to sustain their position and prepare for subsequent declines in interest or sales as consumer preferences shift.