Product lifecycle

The product lifecycle shows

• stages a product goes through from development to removal from sale

• the difference variations of the product

• the level of sales as it goes through its life

Which of the following is not a stage in the product lifecycle?

• introduction

• advancement

• growth

• maturity

The section of a market controlled by a particular business is

• market growth

• market share

• market control

Which of the following are characteristics of the development stage?

• falling sales

• product testing

• product trials

The horizontal (x) axis on a product lifecycle shows

• sales

• profit

• time

The vertical (y) axis on a product lifecycle shows

• sales

• profit

• time

• product variations

At which stage of the lifecycle do sales rise at the fastest rate?

• development

• growth

• decline

• maturity

What can a company do when product is in decline?

• remove from sale

• new advertising campaigns

• new packaging

• new pricing strategies

• new product features

When a product is in decline and a company decides to carry out a new advertising campaign, this is

• an extension strategy

• a relaunch

• a development activity

In which stage of the lifecycle are competitors most likely to enter the market?

• decline

• maturity

• introduction

• growth