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Questions and Answers
Market growth is slow and market share is still high in the Maturity stage.
True
In the Decline stage, sales and profit increase due to reduced competition.
False
The Ansoff Matrix is also known as the Boston Consulting Group Matrix.
False
Market penetration involves focusing on expanding sales of new products in new markets.
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Extension strategy aims to extend the life cycle of a product to prevent sales from declining.
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Product development in Ansoff's matrix refers to introducing new products into new markets.
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Niche marketing focuses on targeting the mass market.
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Segment marketing involves businesses tailoring products to the needs of customers in specific segments.
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The Boston Consulting Group matrix consists of three Ps in its marketing mix.
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Product line refers to products that are very different from each other.
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Ansoff's matrix focuses on distribution strategies for market penetration.
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Marketing mix aims to provide a good at a high price in inconvenient locations.
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Line extension refers to adding new products to an existing product line.
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Mix extension involves diversifying production by offering different product lines.
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During the growth period, sales increase at a slower pace compared to costs.
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Introduction phase in the product life cycle is characterized by high sales and prices.
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A 'Star' product has a weak market position.
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Relaunch involves major changes in a product if minor changes are not sufficient to satisfy customers.
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