2.03 QUIZZIZZ Study Guide

2.03 QUIZZIZZ Study Guide

9th - 12th Grade

20 Qs

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2.03 QUIZZIZZ Study Guide

2.03 QUIZZIZZ Study Guide

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Karen Isbell

Used 1+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 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

2 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

2 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

2 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

2 mins • 1 pt

During the growth stage, costs are affected by:

harvesting strategies.
penetration pricing.
economies of scale.
market saturation.

6.

MULTIPLE CHOICE QUESTION

2 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

2 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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