Which term is associated with the phase where a product is introduced to the market?

The term associated with the phase where a product is introduced to the market is "Product introduction." This phase is a critical part of the product life cycle and occurs after the product development stage, where the product is created and tested. During the product introduction phase, the focus is on launching the product to potential customers, building awareness, and driving initial sales. Marketing strategies are typically employed to promote the product and generate interest among the target audience.

The significance of this phase lies in establishing the product's position in the market and determining its reception by consumers. A successful introduction can lead to sustained interest and sales, while a poorly executed introduction may result in struggles for the product in the subsequent stages of its life cycle. Understanding this concept is essential for effective supplier relationship management and ensuring that suppliers are aligned with a company's product strategy during the launch period.