During which phase would a company typically seek to expand its customer base or invest in new technologies?

The correct answer is found within the concept of the growth phase, where companies actively seek to expand their customer base and invest in new technologies. This phase is characterized by increasing sales and significant investment in marketing and product development to capture new market opportunities. Businesses are usually focused on scaling their operations, enhancing their product offerings, and gaining competitive advantages.

During this phase, the emphasis is on innovation and reaching new customers, which can involve investing in technology to improve products or services. Companies are often in a strong financial position, allowing them to allocate resources toward growth initiatives, such as exploring new markets or introducing new technologies to enhance efficiency or customer satisfaction.

In contrast, other phases like the decline phase typically involve reducing costs and streamlining operations as sales decrease, while the maturity phase often focuses on maintaining market share and maximizing profits from existing products rather than aggressive expansion. The shake-out phase represents a transition period where competition intensifies and weaker players exit the market, which may not be the ideal time for expansion or investment in new technologies.