Product Planning

Front

In the maturity stage, rivals starting to aggressively enter the market with viable products. If you can fill the demand, they will-- and you may never get those customers back.

Back

False

Front

The Product Life Cycle is...

Back

Shows the life of a product; split into categories based on sales / time

Front

Why does a company need to know the life-cycle stages of its products?

Back

To adapt its marketing strategies

Front

Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product’s life cycle?

Back

Because competitors have entered the market

Front

Why should a business continue to monitor an established product?

Back

To make changes in order to extend a product's life cycle.

Front

In a Product Life Cycle, the stage where there are steady sales and it becomes harder for marketers:

Back

Maturity

Front

What is one of the main reasons a companies' profits can start to decrease during the growth stage? Options: Because sales decline in the growth stage, Because marketing strategies are adjusted, Because competitors have entered the market, Because production is more efficient

Back

Because competitors have entered the market

Front

A business should monitor an established product

Back

To make changes in order to extend a product's life cycle

Front

Profits related to fairly new product in its growth stage are

Back

Increasing at a fast rate

Front

Which of the following is a true statement about the introduction stage of the product life cycle: Profits are usually nonexistent., Costs are low., Sales growth is exploding., There is intense competition

Back

Profits are usually nonexistent.