Product Lifecycle

In which stage is a product idea first generated and refined?

• Introduction

• Growth

• Development

• Maturity

What is the primary focus during the development stage?

• Building customer loyalty

• Creating and testing a new product

• Expanding market share

• Reducing prices

High costs are typically incurred during the development stage due to:

• Clearance sales

• Advertising expenses

• Research and testing

• Loyalty programs

In which stage is a product first launched in the market?

• Development

• Introduction

• Growth

• Decline

What is the primary marketing goal during the introduction stage?

• Maximize profit

• Inform customers about the new product

• Reduce production costs

• Expand distribution channels

Sales are typically _____ during the introduction stage.

• high

• steady

• low

• declining

Which stage of the product lifecycle is characterized by rapidly increasing sales?

• Development

• Introduction

• Growth

• Decline

During the growth stage, a company often focuses on:

• Reducing marketing efforts

• Building brand recognition

• Offering clearance sales

• Discontinuing the product

What new challenge often arises during the growth stage?

• Lack of customer interest

• Competition from similar products

• High research costs

• Declining sales

In which stage do sales generally peak and level off?

• Introduction

• Growth

• Maturity

• Decline