Product Life Cycle

Fill in the blank: The first stage of the product life cycle is called _________.

• Introduction

• Growth

• Maturity

• Decline

During the _________ stage, sales are increasing at their fastest rate.

• growth

• introduction

• maturity

• decline

Fill in the blank: The _________ stage is when sales are near their highest, but the rate of growth is slowing down.

• maturity

• introduction

• decline

• growth

Fill in the blank: When everyone who might want the product has got it, the product is in the _________ stage.

• maturity

• introduction

• growth

• decline

Fill in the blank: The final stage of the product life cycle, when sales begin to fall, is called the _________ stage.

• decline

• growth

• introduction

• maturity

What is the Product Life Cycle - Introduction stage characterized by?

• High consumer awareness

• Low profits due to high development costs

• Low prices

• High sales volume

In the Product Life Cycle - Introduction stage, who are the primary consumers?

• Late adopters

• Early adopters

• General public

• Price-sensitive consumers

Fill in the blank: In the Product Life Cycle - Introduction stage, the product is new to the market and few potential consumers know of its ________.

• existence

• price

• features

• availability

What happens to a product during the growth stage of the product life cycle?

• It becomes less known and consumed.

• It becomes more widely known and consumed.

• It is discontinued.

• It is only known locally.

During the growth stage, advertising tries to ______ or strengthen the brand and develop an image for the product.

• establish

• weaken

• ignore

• neglect