WorksheetsStandard 1 : Market a small market (MIT805)
Total questions: 10
Worksheet time: 17mins
Is what comes to mind when your target market thinks about your product compared to your competitor’s products. It has to be clear, concise, and meaningful and do a marketing noise.
Product Life Cycle
Product Levels
Product Strategy
Product Positioning
The Goal of product positioning is to :
Look for new customers
keep your product on top of your customers mind
set new prices
describe the current market position of a business
The life cycle of a product is broken into:
3 stages
6 stages
4 stages
2 stages
In Product Life Cycle stages, the stage in which sales and profits decrease is called
Introduction
Maturity
Growth
Decline
Which of the following is a true statement about the introduction stage of the product life cycle:
Costs are low
Profits are usually nonexistent
There is a big competition
Sales are very high
Which of the following is a true statement about the maturity stage of the product life cycle:
Competitors disappear from the scene
Sales increase very slowly.
Costs go up
Profits are in the top
What is happening at point M on the Product Life Cycle?
Decline
Growth
Introduction
Maturity
Which of these are extension strategies of a product?
decrease the price
improve the product
discounts and special offers
No one of these
Is the stage in the product life cycle, when sales typically grow at an increasing rate and many competitors enter the market
Introduction
Growth
Maturity
Decline
What is happening at point E on the Product Life Cycle?
Extension of the product strategy
Growth
Introduction
Maturity
