Introduction stage of a product life cycle, its a very important stage in the product life cycle, because the product manager should focus on marketing,advertising, pricing , distribution, and promotion to sell the product. In the introduction stage limited competition, if the product is truly original or the product is better than any other product in the market or you are the first to manufacture of the product in the market, the lack of direct competition would be a distinct advantage.
Also, High Price: Manufacturers that are launching a new product are often able to charge prices that are significantly above what will eventually become the average market price. This could be a big advantage in the introduction stage. However, the challenges of the Introduction Stage, when a new product is launched, there is typically no market for it, or if a market does exist it is likely to be very small. Also, with all the costs of getting a new product to the market, most companies will see negative profits for part of the Initial Stage of the product life cycle, although the amount and duration of these negative profits does differ from one market to another, so this could be a challenge in the introduction stage.