WorksheetsMM2 PRELIM EXAM
Total questions: 20
Worksheet time: 8mins
What does increase mean?
Sales go up
Sales go down
What does decrease mean?
Sales go up
Sales go down
What is the product life cycle?
Sales of a product from introduction to decline
The price of a product over time
How many stages are in the product life cycle?
3
4
6
7
What is the first stage of the product life cycle?
Growth - product sales increase
Introduction - new product to the market
Maturity - product sales start to slow down
Decline - product sales decrease
An example of the Introduction phase is when the First iPhone was released by Apple
True
False
What is the second phase of the product life cycle?
Introduction - new product released
Maturity - product sales start to slow down
Growth - product sales increase
Decline - product sales decrease
What is the 3rd stage of the product life cycle?
Maturity - product sales start to slow down
Decline - product sales decrease
Growth - product sales increase
Introduction - new product release
What is the 4th/final stage of the product life cycle?
Growth - product sales increase
Introduction - new product release
Decline - product sales decrease
Maturity - product sales start to slow down
How can a business increase sales?
Innovative marketing
Add new features e.g. iPhone 12 - 4 cameras
Innovation - create a new product
All of the above
Which stage has rapid sales?
introduction
maturity
decline
growth
Which stage has lots of competitors?
growth
maturity
introduction
decline
What is a product extension?
longer production time
products with extension features
strategies to keep the product from declining
products that keep going through the different stages
Which stage requires lots of advertising?
introduction
growth
maturity
decline
Which stage has the least production costs?
introduction
maturity
decline
growth
What could a business do in the decline stage?
remove the product from the market
use a product extension strategy
increase production
sack the directors and start again
What should a business do in the intro stage?
make lots of their product
build up sales
increase staff numbers
increase customer awareness
What stage has least competitors?
intro
maturity
decline
growth
What is the MAIN purpose of using a PLC?
to help with staffing issues
to improve customer service
to help make better marketing decisions over time
to lift salaries for directors
