Product life cycle and Boston matrix

What are the four stages of the product life cycle?

• introduction, sales, growth, decline

• Introduction, maturity, decline, growth

• Introduction, growth, maturity, decline

• Growth, maturity, decline, end

What is the introduction phase of the product life cycle?

• The product grows as soon as it is launched into the market.

• The high awareness of the product means that the product is already making profit.

• The product is introduced to the market so sales and revenue are high.

• The product is just launched into the market and sales are very low as customers aren’t aware of the product.

Which product is in the growth phase of the product life cycle?

• iPhone XS

• Dairy Milk

• Dyson vacuum

• iPod

Which stage means that the product is at maximum sales and sales are starting to slow down?

• Introduction

• Maturity

• Decline

• Growth

What strategy can be used to continue the sales of a product for longer?

• Advertising strategy

• Marketing strategy

• New product strategy

• Extension strategy

In the maturity phase...

• pricing may be lower as there is high competition.

• pricing stays the same as there is no new competition.

• sales continue to grow as there are new customers.

When does the business have to decide whether to discontinue the product?

• Before it is launched into the market

• All the time that the product is on the market

• Maturity phase

• Decline phase

What is the product life cycle used for?

• See which product in a business is the most successful.

• Predict the likely shape of sales of any product.

• See how much advertising a business has used.

• Calculate the number of customers a product has.

What are the four stages of the Boston Matrix?

• Dog, question mark, star, cash cow

• Dog, question mark, moon, cat

• Cat, question mark, moon, dog

• Moon, cash cow, question mark, dog

What are the two axis of the Boston Matrix?

• Sales and market growth

• Market growth and market share

• Revenue and costs