Marketing Unit 2: Product

Which of the following is a true statement about the introduction stage of the product life cycle:

• Profits are usually nonexistent.
• Costs are low.
• c. Sales growth is exploding.
• There is intense competition

Which of the following is a true statement about the growth stage of the product life cycle:

• Costs go up.
• Competitors arrive on the scene.
• It’s the longest-lasting stage of the product life cycle.
• Sales increase very slowly.

Which of the following is a true statement about the maturity stage of the product life cycle:

• Sales growth slows down.
• Profits increase.
• c. Competition becomes less intense.
• It is the easiest stage for marketers.

In Product Life Cycle stages, the stage in which sales and profits decrease is called

• Introduction
• Growth
• Maturity 
• Decline

At what stage in the product life cycle are sales at their highest?

• Introduction

• Growth

• Maturity

• Decline

At what stage of the product life cycle will the business start thinking about extension strategies (to extend the life of the product) ?

• Introduction

• Growth

• Maturity

• Decline

What is it called when the business updates a product or puts out a variation of it to keep the sales of a product high and avoid a decline?

• Sales maximisation technique

• Extension strategies

• Maturity continuation

• Promotion

Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.

• Testing the product

• developing the product

• evaluating customer acceptance

• generating ideas

The ideas generation can come from

• employees

• customers

• competitors

• all the above

Which of the following definitions best explains the product life cycle?

• The length of time for consumers to use up all of a product
• The length of time a product stays on a market
• Stages of sales that a product passes through
• Length of time taken to make a new product