Entrepreneur Product Life Cycle

What happens to company profits during the Maturity stage of the Product Life Cycle?

• Fluctuate
• Decline
• Remain stable
• Increase

During which stage of the Product Life Cycle are profits high due to wider consumer acceptance?

• Decline
• Maturity
• Growth
• Introduction

What is the final stage of the Product Life Cycle?

• Decline
• Maturity
• Growth
• Introduction

What is the purpose of test marketing in product development?

• To observe product performance
• To evaluate market factors
• To measure consumer eagerness
• To expand distribution

What is the main objective during the Growth stage of the Product Life Cycle?

• Expand distribution
• Lower prices
• Reduce production costs
• Increase competition

Which step involves searching for new products or business opportunities?

• Idea Generation
• Business Analysis
• Concept Testing
• Idea Screening

What is the purpose of concept testing in product development?

• To evaluate market factors
• To expand distribution
• To measure consumer eagerness
• To transform ideas into tangible form

Which stage of the Product Life Cycle involves the real marketing of the product in the target market?

• Product Development
• Test Marketing
• Commercialization
• Introduction

Which stage involves introducing a new product into the marketplace to generate consumer interest?

• Growth
• Maturity
• Decline
• Introduction

What is the first stage of the Product Life Cycle?

• Growth
• Maturity
• Introduction
• Product Development