Product Lifecycle

What is the purpose of the product lifecycle concept?

• To increase sales

• To show the life of a typical product

• To reduce costs

• To improve quality

What does the product lifecycle help businesses understand?

• The best time to launch a new product

• The life span of their products

• The cost of production

• The best marketing strategies

What is the first stage of the Product Lifecycle?

• Growth

• Introduction

• Maturity

• Decline

During which stage of the Product Lifecycle do sales typically peak?

• Introduction

• Growth

• Maturity

• Decline

What is the primary goal during the Growth stage of the Product Lifecycle?

• Increase market share

• Reduce costs

• Phase out the product

• Maintain sales

Which stage of the product lifecycle is associated with a decrease in sales?

• Introduction

• Growth

• Maturity

• Decline

Which stage of the product lifecycle is focused on maximizing profit while defending market share?

• Introduction

• Growth

• Maturity

• Decline

Which stage follows the introduction stage in the product lifecycle?

• Development

• Growth

• Maturity

• Decline

Which stage of the product lifecycle is often associated with increased competition?

• Introduction

• Growth

• Maturity

• Decline

What was the sales figure for Xbox One in the introduction stage?

• 3.08 million

• 7.91 million

• 8.63 million

• 5.12 million