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Questions and Answers

What is the primary marketing objective during the Maturity phase of the product life cycle?

Introduce new product features to attract customers

Reduce expenditures and maximize the brand

Maximize profits while defending market share (correct)

Increase advertising and sales promotion to boost sales

What is the primary strategy for pricing during the Decline phase of the product life cycle?

Reduce prices to compete with new market entrants (correct)

Increase prices to maintain profit margins

Offer discounts and promotions to clear out remaining inventory

Maintain stable prices to retain existing customers

What is the primary marketing strategy for distribution during the Growth phase of the product life cycle?

Maintain existing distribution channels to ensure availability

Limit distribution to selective channels to maintain exclusivity

Expand distribution to reach a wider customer base (correct)

Shift distribution to online channels to reduce costs

What is the primary sales promotion strategy during the Maturity phase of the product life cycle?

Increase trade promotions to incentivize channel partners Signup and view all the answers

What is the primary product strategy during the Introduction phase of the product life cycle?

Offer a basic, standardized product to establish market presence Signup and view all the answers

What is the primary advertising strategy during the Decline phase of the product life cycle?

Reduce advertising expenditures and focus on other promotional activities Signup and view all the answers

What is the primary marketing objective during the Decline phase of the product life cycle?

Reduce expenditures and maximize the brand Signup and view all the answers

What is the primary product strategy during the Maturity phase of the product life cycle?

Diversify the product line with multiple brands and models Signup and view all the answers

What is the primary pricing strategy during the Growth phase of the product life cycle?

Maintain stable prices to retain existing customers Signup and view all the answers

What is the primary sales promotion strategy during the Decline phase of the product life cycle?

Reduce sales promotion activities to focus on brand building Signup and view all the answers