Midterms_Brand&ProductManagement_Quiz1

What are the stages of the product life cycle?

• Introduction, Growth, Maturity, Closure

• Development, Growth, Peak, Closure

• Introduction, Growth, Maturity, Decline

• Launch, Growth, Decline, Termination

In which stage of the product life cycle are profits typically highest?

• Decline

• Maturity

• Growth

• Introduction

What is the primary marketing objective during the introduction stage?

• Phase out the product

• Lower costs

• Create awareness and trial

• Maximize profits

At what stage are competitors most likely to enter the market?

• Introduction

• Growth

• Maturity

• Decline

During the decline stage, companies typically:

• Increase marketing efforts

• Spend heavily on Research and Development

• Innovate to stay relevant

• Discontinue the product

Which of these is not a strategy for managing products in the decline stage?

• Extensive new advertising campaign

• Rebranding

• Finding new markets

• Discontinuation

A. Sales are typically lowest during the maturity stage of the product life cycle.

B. The product life cycle applies only to physical goods, not services.

• Both are True

• Both are False

• Statement

A. Companies often experience losses during the introduction stage.
B. The decline stage signals that the product has no future potential for profitability.

• Both are True

• Both are False

• Statement A is True, while Statement B is False

• Statement A is False. while Statement B is True

A. Companies often experience losses during the introduction stage.
B. The decline stage signals that the product has no future potential for profitability.

• Both are True

• Both are False

• Statement A is True, while Statement B is False

• Statement A is False. while Statement B is True

A. A primary objective during the growth stage is to differentiate the product from competitors.

B. The product life cycle is always a linear, predictable process.

• Both are True

• Both are False

• Statement A is True, while Statement B is False

• Statement B is True, while Statement A is False