ASAP PACE Practice Test 2025 – The All-in-One Guide to Excel in Professional Administrative Certification!

The phase that follows the "Launch" phase in the Business Life Cycle is known as the Growth phase. After successfully launching a product or service, the business typically begins to experience an increase in demand, customer base, and revenue. During this phase, the focus shifts toward scaling operations, enhancing marketing efforts, and possibly expanding into new markets or product lines.

In the Growth phase, businesses often refine their offerings based on customer feedback to ensure they meet market needs effectively. This phase is characterized by rapid expansion and a surge in sales, capitalizing on the initial groundwork laid during the Launch phase. Furthermore, businesses may start to gain market share and establish a stronger brand presence at this stage.

The other phases, such as Shake-Out, Decline, and Maturity, serve different purposes within the Business Life Cycle and occur at later stages, reflecting various challenges and opportunities that businesses face as they evolve beyond their initial growth.