Product Life Cycle

What are the stages of the product life cycle?

• development, launch, expansion, and termination

• innovation, adoption, diffusion, and obsolescence

• introduction, growth, maturity, and decline

• research, design, production, and distribution

Which stage of the product life cycle is characterized by high competition and market saturation?

• maturity

• decline

• growth

• introduction

During which stage of the product life cycle does a product experience rapid sales growth?

• growth stage

• introduction stage

• maturity stage

• decline stage

What happens to sales and profits during the decline stage of the product life cycle?

• Sales increase and profits decrease.

• Both sales and profits decrease.

• Sales and profits remain constant.

• Sales decrease and profits increase.

Which stage of the product life cycle is focused on building brand awareness and market share?

• Decline

• Introduction

• Maturity

• Growth

What are the main objectives during the introduction stage of the product life cycle?

• Develop new product features, increase product price, and target new customer segments.

• Reduce production costs, improve product quality, and enhance customer satisfaction.

• Create awareness, generate interest, and establish a market for the product.

• Increase sales, build customer loyalty, and expand market share.

Which stage of the product life cycle is characterized by a decrease in sales growth rate?

• maturity stage

• decline stage

• growth stage

• introduction stage

What strategies can be used to extend the product life cycle?

• Product innovation, market segmentation, increased pricing, and decreased customer support.

• Market contraction, product standardization, decreased quality, and increased competition.

• Product diversification, market expansion, product improvement, and promotional activities.

• Product obsolescence, limited distribution, reduced pricing, and decreased advertising.