LAP - Get a Life (Cycle)

LAP - Get a Life (Cycle)

9th - 12th Grade

20 Qs

quiz-placeholder

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LAP - Get a Life (Cycle)

LAP - Get a Life (Cycle)

Assessment

Quiz

Life Skills

9th - 12th Grade

Medium

Created by

Anonymous Anonymous

Used 12+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The product life cycle refers to the stages a product moves through from the time it enters the market until the time

It reaches maturity.

Its sales growth slows down.

It exits the market.

It produces a profit.

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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.

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Kevin is standing in line to purchase the latest version of his favorite smartphone. He loves getting the newest technology as soon as it's available. Kevin is known as a(n)

product bundler.

price skimmer.

maturity-stage buyer.

early adopter.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

During the growth stage, costs are affected by

harvesting strategies.

penetration pricing.

economies of scale.

market saturation.

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

Sales growth slows down.

Profits increase.

Competition becomes less intense.

It is the easiest stage for marketers.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Most of the products we use are in which stage of the product life cycle?

Introduction

Growth

Maturity

Decline

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