Product Life cycle

The product life cycle shows the different stages that a product passes through and sales that can be expected at each stage

• True
• False

What is happening at point F on the Product Life Cycle?

• Introduction
• Decline
• Maturity
• Growth

Which of these comments is most suitable for Growth?

• Heavy investment but no sales
• Sales are likely to be low as the product is new to the market
• Revenue is increasing as the product gains popularity
• Likely to be characterised as a dog in the Boston Matrix

What is happening at point F of the Product Life Cycle?

• Growth

• Maturity

• Extension Strategy

• Introduction

During this stage, a business will research and devlop the product. Product testing and trials takes place.

• Development

• Introduction

• Growth

• Maturity

• Decline

During this stage, the product is launched. Usually a loss is made during this phase as Sales are low (but increasing)

• Development

• Introduction

• Growth

• Maturity

• Decline

During this stage, sales start to fall. Extension strategies needed to pick up sales again.

• Development

• Introduction

• Growth

• Maturity

• Decline

Which stage has rapid sales?

• introduction

• maturity

• decline

• growth

Which stage has lots of competitors?

• growth

• maturity

• introduction

• decline

What is the term used for extending a product life cycle?

• Extension Strategies
• Product Sales
• Service Expansion
• Business Growth