In which stage of the Product Life Cycle (PLC) do sales grow rapidly, profits peak, and competitors enter the market?

Explanation

* The Growth Stage is characterized by rapid market acceptance, increasing sales, rising profits, and new competitors entering.
* Introduction stage has high initial costs and low profits; Maturity stage has peak sales but slowing growth; Decline stage sees falling sales.
* Marketers focus on building brand loyalty and expanding distribution during the growth stage.