Understanding the Product Life Cycle

Understanding the Product Life Cycle

Assessment

Interactive Video

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Jennifer Brown

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of understanding the product life cycle in business?

To predict economic trends

To understand consumer behavior

To decide when to increase advertising and reduce prices

To determine the best time to launch a new product

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which stage of the product life cycle involves creating awareness and demand for a new product?

Growth

Maturity

Introduction

Decline

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During which stage of the product life cycle do competitors typically enter the market?

Introduction

Growth

Maturity

Decline

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to a product's sales growth during the maturity stage?

It slows down

It declines sharply

It accelerates rapidly

It remains constant

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of the decline stage in the product life cycle?

Increased production costs

High consumer demand

Emergence of new competitors

Decreased profit margins

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which product is currently in the decline stage due to technological advancements?

Smartphones

AI products

Typewriters

Electric vehicles

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What stage are electric vehicles currently experiencing in their product life cycle?

Introduction

Growth

Decline

Maturity

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