Product Life Cycle Quiz

When was Blockbuster founded?

• 1985

• 2004

• 2010

• 2014

In which year did Blockbuster go bankrupt?

• 2014

• 2010

• 2018

• 2004

Who proposed the product life cycle approach in 1966?

• Elon Musk

• Raymond Fernin

• Mark Zuckerberg

• Steve Jobs

During which stage of the product life cycle does competition reach its peak?

• Introduction

• Decline

• Growth

• Maturity

What should companies do during the decline phase of a product?

• Reduce product sales prices

• Ignore loyal customers

• Introduce new competitors

• Increase advertising costs

What happened to Apple iPod sales starting from 2010?

• Increased

• Stabilized

• Declined

• Remained constant

What is the first stage of the product life cycle?

• Maturity

• Decline

• Growth

• Introduction

What should companies focus on during the growth phase of a product?

• Decrease distribution channels

• Ignore competitors

• Add new values or features to the product

• Reduce advertising costs

What is the main reason for the decline of a product in the market?

• Technological innovation

• Political events

• Introduction of new competitors

• Increase in demand

What should companies do during the maturity stage of a product?

• Reduce distribution channels

• Introduce higher versions of the product

• Ignore competitors

• Increase advertising costs