Successfully transitioning from one stage of the industry life cycle to the next is referred to as:

• A. creative destruction
• B. industry evolution
• C. market equilibrium
• D. price discrimination

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the concept of the industry life cycle, which describes the stages an industry goes through from introduction, growth, maturity, to decline.
2. Step 2: Recognize that 'successfully transitioning from one stage of the industry life cycle to the next' means the industry adapts and evolves over time.
3. Step 3: Review the definitions of the given options: 'creative destruction' refers to the process where new innovations replace old technologies; 'market equilibrium' is the state where supply equals demand; 'price discrimination' is charging different prices to different consumers.
4. Step 4: Identify that the term describing the overall process of moving through the stages of the industry life cycle is 'industry evolution', which captures the dynamic changes and adaptation of the industry.
5. Step 5: Conclude that the correct term for successfully moving from one stage to the next in the industry life cycle is 'industry evolution'.