Product Life Cycle

Which of the following is not a stage of the product life cycle?

• Extension

• Maturity

• Growth

• Infancy

What phase of the cycle is this:

The business tries to build awareness, which means customers start to know things about the good/service, such as its features.

• Introduction

• Maturity

• Growth

• Extension

At which stage of the product life cycle would you expect to see the highest level of sales?

• Introduction

• Growth

• Maturity

• Decline

At what stage of the product life cycle would you expect the product to be discontinued?

• Introduction

• Growth

• Maturity

• Decline

A business must be able to launch, modify and delete products from its range in response to changes in the product life cycle.

• False

• True

Modifying a product is done during maturity, or towards post maturity

• True

• False

During or towards the maturity phase is the phase to modify a product because sales are levelling out due to increasing numbers of similar products by competitors, or existing customers are getting bored with the same product.

• True

• False

During or towards the maturity phase, if there is too much downturn in sales, a business may delete it rather than spending money on marketing.

• False

• True

After the maturity stage, in most cases the product will go through a gradual decline as consumer tastes change or new products come on to the market to replace it.

• True

• False

The main reasons why Australian businesses have become more export-oriented in the last decade:

• Governments have initiated policies and trade agreements to integrate the Australian economy with the rest of the world

• Australia’s small population means that businesses that wish to expand need to export.

• The expansion of e-business has allowed many businesses to sell to overseas customers via the internet.

• All of the above