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WorksheetsIB Business - 4.2 + 4.5 Product
Total questions: 12
Worksheet time: 6mins
Which phase of the Product Life Cycle?
is a phase in the PLC when sales revenue peak or plateau, as sales growth slows down and the business competes with its rivals in the market.
Launch/Intro
Growth
Maturity
Decline
The PLC diagram plots the product’s __ on the y-axis and the __ along the x-axis.
Inflows and Outflows
Gross Profit and Expenses
Sales Revenue and Time
Income and Output
An extension strategy is usually used during the growth phase in order to prolong the longevity of the product's life cycle.
True
False
Research and development is the phase in the product life cycle that involves investing in marketing campaigns that make sure that people become aware of the new product.
True
False
Which of these market segments for a fishing equipment business is based on demographics?
Customers in the capital city
Customers living in coastal areas
Teenagers
Purchasers of fishing magazines
A major beverage company decides to target an entire market in order to sell its products to a large number of people, thereby increasing sales. Which targeting strategy have they used?
Segmented marketing
Niche marketing
Mass marketing
Target Market
Market share is the percentage of a company’s share of total __ in the market.
Size
Customers
Sales
Equity
Key Term
An exclusive feature or aspect of a business, its products or brands that makes it distinct from others in the same industry.
Unique Sales Point
Unique Sales Performance
Unique Selling Point
Universal Supply Progam
Which of the following is not a stage in the Product Life Cycle?
Maturity
Research & Development
Termination
Growth
An extension strategy is usually used during the growth phase in order to prolong the longevity of the product's life cycle.
True
False
What is the term used for a product that is purchased by a large number of people over a short period of time, and then quickly loses popularity?
Staple
Classic
Fad
Innovation
TRUE OR FALSE
Market-orientated businesses believe there will always be a market for their goods and services.
True
False
