6 Questions
Which of the following is part of
Introduction Phase
In which phase of the product life cycle the production of the product terminated and advertising cost reduced or stopped?
Decline Phase
Which phase is characterized by slow sales increase, fierce competition, and high marketing costs?
Maturity Phase
Which phase of the product life cycle involves the introduction of a product extension?
Maturity Phase
When does a product extension typically occur in the product life cycle?
During the Maturity Phase
At which stage of the product life cycle might a company consider extending the product line?
Maturity Phase
Study Notes
Product Life Cycle
- The Decline Phase is characterized by the termination of product production, and a reduction or stop in advertising costs.
Growth Phase
- In this phase, sales increase slowly, competition is fierce, and marketing costs are high.
Maturity Phase
- This phase involves the introduction of a product extension, which typically occurs when a product is already established in the market.
Product Line Extension
- A company may consider extending the product line during the Maturity Phase, to revitalize the product and maintain its market share.
Test your knowledge on the stages of product life cycle with this quiz. Learn about the characteristics and strategies associated with the introduction, growth, maturity, and decline phases of a product.
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