As you correctly pointed out Apple does a good job with new products in the market growth stage, because industry sales grow fast but industry profits rise and then start falling. In this stage the company or the innovator realizes big profits and attracts competition. Competitors may try to copy the innovator, or to improve on what the innovator has introduced. Also some competitors may try to offer a product to a more narrowly defined target market. This is when competitors enter and monopolistic competition develops, leading to a downward sloping demand curves. Industry profits reach their peak in this stage, but then begin to decline with more competition and increasing consumer price sensitivity and this is when Apple does a good job of introducing new products. Why do consumers become more price sensitive in the market growth stage?