Use the following to answer questions 23-26: An industry analysis for manufacturers of a small personal care gadget observed the following...

Use the following to answer questions 23-26:An industry analysis for manufacturers of a small personal care gadget observed the followingcharacteristics:• Industry sales have grown at 15-20% per year in recent years are expected to grow at 10-15%per year over the next three years.• Some U.S. manufacturers are attempting to enter fast growing non-U.S. markets, whichremain largely unexploited.• Some manufacturers have created a new niche in the industry by selling directly to customersthrough mail order. Sales for this industry segment are growing at 40% per year.• The current penetration rate in the U.S. is 60% of households and will be difficult to increase.• Manufacturers compete fiercely on the basis of price, and price wars within the industry arecommon.• Some manufacturers are able to develop new, unexploited niche markets in the U.S. based oncompany reputation, quality, and service.• Several manufacturers have recently merged, and it is expected that consolidation in theindustry will increase.• New manufacturers continue to enter the market.23. Characteristics 4 and 5 would indicate that the industry is in the ___ stage.A) Start-upB) ConsolidationC) MaturityD) Relative decline24. Characteristics ____ would be typical of an industry that is in the start-up stage.A) 4 and 7B) 1 and 4C) 2 and 5D) none of the above25. Characteristics ____ would be typical of an industry that is in the consolidation stage.A) 6 and 7B) 1 and 4C) 5 and 6D) none of the above26.Characteristics ____ would be typical of an industry that is in the maturity stage.A) 1, 2 and 3B) 4 and 5C) 6, 7 and 8D) none of the above