Product Life Cycle (Video)

What does the Product Life Cycle concept help companies decide?

• When to take a vacation

• When to increase advertising or adjust pricing

• When to hire new employees

• When to launch a new product

What is the first stage of the Product Life Cycle?

• Maturity

• Introduction

• Decline

• Growth

During which stage do companies often reduce marketing efforts?

• Introduction

• Growth

• Maturity

• Decline

What indicates a product has entered the Decline stage?

• Rapid drop in sales

• Introduction of a new product

• Expansion into new markets

• Increased sales

Which technology replaced typewriters?

• Smartphones only

• Printed books

• Computers and laptops

• Telegraphs