"Test Your Knowledge: Can You Identify the Four Stages of Product Life Cycle?" T...
9 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the first stage of the product life cycle?

  • Growth
  • Introduction/Development (correct)
  • Maturity
  • Decline

    • During which stage of the product life cycle does demand begin to accelerate?

  • Decline
  • Maturity
  • Growth (correct)
  • Introduction/Development

    • What happens to sales during the decline stage of the product life cycle?

  • Sales increase
  • Sales fluctuate
  • Sales remain stable
  • Sales decrease (correct)

    • What is the primary purpose of determining a product's life cycle?

    <p>To identify when a product should be removed from the market</p> Signup and view all the answers

    What is the key characteristic of the growth stage in a product's life cycle?

    <p>Demand begins to accelerate</p> Signup and view all the answers

    What typically happens to sales during the maturity stage of a product's life cycle?

    <p>Demand levels off and grows only at the replacement and new family-formation rate</p> Signup and view all the answers

    During which stage of the product life cycle does demand grow only at the replacement and new family-formation rate?

    <p>Maturity</p> Signup and view all the answers

    What is the key difference between the introduction stage and the growth stage of a product's life cycle?

    <p>Sales are low in the introduction stage but increase rapidly in the growth stage</p> Signup and view all the answers

    What happens to a product during the decline stage of its life cycle?

    <p>It loses consumer appeal and sales drift downward</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser