Product Life Cycle and Boston Matrix

Define what is meant by the 'Product Life Cycle'

• A cycle that shows how a product goes from its development and launched until it is removed from sale by the public.

• The process of finding new information for a business.

Identify the correct order of the stages of the 'product life cycle'

• Maturity, Development, Introduction, Growth, Decline

• Introduction, Development, Growth, Maturity, Decline

• Development, Introduction, Maturity, Growth, Decline

• Development, Introduction, Growth, Maturity, Decline

Which of the following stage of the product lifecycle is shaded and labelled ‘X’ on the diagram?

• Development

• Growth

• Introduction

• Maturity

Identify the stage of the Product Life Cycle:

Low Sales, company has made a loss, customers are innovators and there are few competitors?

• Introduction

• Growth

• Maturity

• Decline

Identify the stage of the Product Life Cycle:

Decreasing sales, decreasing profits, customers are 'laggards' and the number of competitors is decreasing.

• Introduction

• Growth

• Maturity

• Decline

Identify the stage of the Product Life Cycle:

Rapidly rising sales, rising profits, customers are early adoptors and there are a growing number of competitors.

• Introduction

• Growth

• Maturity

• Decline

Identify the stage of the Product Life Cycle:

Sales are at their peak, profits are at their highest, customers are 'middle mejority' and competitors are starting to decline.

• Introduction

• Growth

• Maturity

• Decline

Which label is used on the horizontal axis (x) on the product life cycle?

• Time

• Sales

Which label is used on the vertical axis (y) on the product life cycle?

• Time

• Sales

What does a business use to analyse its product portfolio?

• Product life cycle

• Product Mix

• The Boston Matrix