PLC quiz

Which of the following is NOT a stage in the product life cycle?

• Introduction

• Growth

• Revival

• Maturity

What happens during the introduction stage of the product life cycle?

• Profits are typically low or negative

• Sales reach their peak

• The market is saturated with competitors

• The product is discontinued

Which stage of the product life cycle is characterized by increasing competition, rising sales, and higher profitability?

• Introduction

• Growth

• Maturity

• Decline

What is the main challenge businesses face during the maturity stage?

• Low consumer awareness

• High production costs

• Lack of competition

• Declining profits due to market saturation

Which of the following strategies is commonly used during the decline stage of the product life cycle?

• Reducing costs and possibly discontinuing the product

• Increasing the price to maintain profitability

• Expanding the product line

• Investing heavily in promotion