What is one of the key activities during the 'Introduction' phase of a product?

During the 'Introduction' phase of a product, one of the key activities focuses on establishing a presence in the market. Obtaining patents and trademarks is crucial at this stage as it helps protect the product's unique features and intellectual property from competitors. This legal protection is critical for a new product, ensuring that the brand can build a reputation and customer trust without the risk of imitation. Securing patents can also increase perceived value, which can be a competitive advantage during the introduction phase, as it signals to potential customers that the product is innovative and unique.

Market analysis and price adjustment, increasing advertising and promotional efforts, and reducing operational costs are also activities that occur in various stages of a product's lifecycle. However, during the introduction phase, the immediate focus on protecting the product through patents and trademarks is paramount to establish a strong foundation for future marketing and sales efforts.