Product Life Cycle Quiz

In which stage of the product life cycle is a product first introduced into the market, and sales volume is generally low?

• Growth Stage

• Introduction Stage

• Maturity Stage

• Decline Stage

Which stage is characterized by rapid sales growth, increased profitability, and the entry of competitors?

• Growth Stage

• Introduction Stage

• Maturity Stage

• Decline Stage

During which stage of the product life cycle do companies focus on retaining market share through price reductions, product enhancements, and increased promotions?

• Introduction Stage

• Growth Stage

• Maturity Stage

• Decline Stage

What stage occurs when sales begin to decline due to market saturation or changes in consumer preferences?

• Growth Stage

• Introduction Stage

• Maturity Stage

• Decline Stage

Which of the following is an example of a product in the maturity stage?

• Electric vehicles

• Smartphones during their early years

• Soft drinks like Coca-Cola

• DVD players

What strategy is most commonly employed during the introduction stage to attract early adopters?

• Cost reduction

• Product bundling

• Product positioning and education

• Niche marketing

Which stage presents significant opportunities for scaling operations and increasing market share through differentiation?

• Growth Stage

• Introduction Stage

• Maturity Stage

• Decline Stage

During the decline stage, what is a common strategy businesses may adopt?

• Expanding distribution channels

• Product withdrawal or cost reduction

• Scaling production

• Developing ancillary products

At the maturity stage, companies often focus on ________ to sustain profitability and maintain customer interest.

• Market segmentation and cost management

• Niche marketing and repurposing

• Product positioning and education

• Scaling production and expansion

Which of the following is an example of a product in the decline stage of its life cycle?

• Streaming services

• Electric vehicles

• DVD players

• Smartphones