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- 1. Multiple Choice
5. Which phase of the Product life cycle is a downward turn in sales leading to the demise of a product.
Introduction
Growth
Maturity
Decline
- 2. Multiple Choice
Why does a company need to know what stage of the product life cycle its products are in?
To prevent imitators from entering the market
To find new uses for the product
To predict the length of the life cycle
To adapt its marketing strategies
- 3. Multiple Choice
In product life cycle maturity stage, the marketing objective is to
create product awareness
maximize market share
defend market share and profits
reduce expenditures
- 4. Multiple Choice
Product extension usually takes place during the
Introduction phase
Growth phase
Maturity phase
decline phase
- 5. Multiple Choice
Examples of product extension include
entering new markets
adding new features
Changing product packaging
All of the above
- 6. Multiple Choice
In the introduction phase, generally
product prices are high
Sales are high
there is a lot of competition
Companies usually make a lot of money in this phase
- 7. Multiple Choice
In the product growth phase, generally
Profitability is stable
Brand awareness is high
Costs are reduced due to economies of scale
Sales volumes peak
- 8. Multiple Choice
In the product maturity phase, generally
prices tend to increase due to the proliferation of competing products
Competition starts to decrease
brand differentiation and feature diversification is emphasized to maintain or increase market share
Profits tend to decrease
- 9. Multiple Choice
In the product decline stage, generally
Prices and profitability diminish
Efficiency in production, rather than increase in sales may lead to maintained profitability
Changes in consumer taste and technology leads to reduction in sales
All of the above
- 10. Multiple Choice
Marketing communications seeking to build product awareness and educate potential consumers about the product typically occurs during the
Decline phase
Growth phase
Introduction phase
Maturity phase
- 11. Multiple Choice
Firms typically seek to build brand preference and increase market share during the
Maturity phase
Decline phase
Introduction phase
Growth phase
- 12. Multiple Choice
The primary objective of defending market share while maximizing profit typically occurs during the
Growth phase
Introduction phase
Decline phase
Maturity phase
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