Product life cycle

What does increase mean?

• Sales go up

• Sales go down

What does decrease mean?

• Sales go up

• Sales go down

What is the product life cycle?

• Sales of a product from introduction to decline

• The price of a product over time

How many stages are in the product life cycle?

• 3

• 4

• 6

• 7

What is the first stage of the product life cycle?

• Growth - product sales increase

• Introduction - new product to the market

• Maturity - product sales start to slow down

• Decline - product sales decrease

An example of the Introduction phase is when the First iPhone was released by Apple

• True

• False

What is the second phase of the product life cycle?

• Introduction - new product released

• Maturity - product sales start to slow down

• Growth - product sales increase

• Decline - product sales decrease

What is the 3rd stage of the product life cycle?

• Maturity - product sales start to slow down

• Decline - product sales decrease

• Growth - product sales increase

• Introduction - new product release

What is the 4th/final stage of the product life cycle?

• Growth - product sales increase

• Introduction - new product release

• Decline - product sales decrease

• Maturity - product sales start to slow down

How can a business increase sales?

• Innovative marketing

• Add new features e.g. iPhone 12 - 4 cameras

• Innovation - create a new product

• All of the above