Marketing Chapter 11

A concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline—is referred to as the

• product growth cycle

• diffusion of product innovation

• product life cycle

• marketing mix

There are four stages of the product life cycle. What does the first stage of the product life cycle represent?

• growth

• accelerated development

• introduction

• maturity

There are four stages of the product life cycle. What does the second stage of the product life cycle represent?

• growth

• maturity

• decline

• introduction

There are four stages of the product life cycle. What does the third stage of the product life cycle represent?

• maturity

• decline

• introduction

• growth

There are four stages of the product life cycle. What does the fourth stage of the product life cycle represent?

• decline

• introduction

• maturity

• growth

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the lower of the two curves represent?

• total industry sales revenue

• total industry profit

• gain awareness

• maintain brand loyalty

What is the marketing objective for the introduction stage of the product life cycle?

• stress differentiation

• harvesting

• gain awareness

• market share

What is the marketing objective for the maturity stage of the product life cycle?

• maintain brand loyalty

• begin deletion

• implement skimming

• stress differentiation

The ________ stage of the product life cycle occurs when a product is launched to its intended target market.

• introduction

• maturity

• growth

• decline

The initial purchase of a product by a consumer is referred to

• a first buy

• a product sampling

• a trial

• an examination period