#1
Which stage of the product life cycle is characterized by rapid sales growth and increasing profits?
Growth
ExplanationRapid sales growth and increasing profits characterize the Growth stage.
#2
During which stage of the product life cycle do marketing efforts typically focus on building brand awareness and encouraging trial purchases?
Introduction
ExplanationBuilding brand awareness and encouraging trial purchases are typical focuses during the Introduction stage.
#3
Which stage of the product life cycle is characterized by a rapid increase in competition?
Maturity
ExplanationA rapid increase in competition characterizes the Maturity stage.
#4
What is the primary focus of marketing efforts during the growth stage of the product life cycle?
Maximizing profits
ExplanationMaximizing profits is the primary focus during the Growth stage.
#5
Which stage of the product life cycle typically sees a decrease in competition as weaker competitors exit the market?
Maturity
ExplanationA decrease in competition characterizes the Maturity stage as weaker competitors exit the market.
#6
What strategy might a company use during the decline stage of the product life cycle?
Harvesting
ExplanationHarvesting is a strategy used during the decline stage.
#7
Which of the following is NOT a characteristic of the maturity stage of the product life cycle?
Declining profits
ExplanationDeclining profits are not characteristic of the Maturity stage.
#8
During which stage of the product life cycle might a company consider product line extensions or improvements?
Maturity
ExplanationProduct line extensions or improvements might be considered during the Maturity stage.
#9
What is a common pricing strategy used during the introduction stage of the product life cycle?
Market skimming
ExplanationMarket skimming is a common pricing strategy during the Introduction stage.
#10
Which of the following is a characteristic of the decline stage of the product life cycle?
Declining sales
ExplanationDeclining sales are characteristic of the Decline stage.
#11
What is one potential drawback of the growth stage of the product life cycle?
High production costs
ExplanationHigh production costs can be a drawback of the Growth stage.
#12
What is a potential strategy for extending the life cycle of a product in the decline stage?
Expanding distribution channels
ExplanationExpanding distribution channels is a potential strategy for extending the product's life cycle.
#13
Which of the following is a potential challenge during the introduction stage of the product life cycle?
Establishing brand loyalty
ExplanationEstablishing brand loyalty can be a challenge during the Introduction stage.
#14
Which of the following is a characteristic of the growth stage of the product life cycle?
Expansion of distribution channels
ExplanationExpansion of distribution channels is characteristic of the Growth stage.
#15
Which of the following is a common marketing strategy during the introduction stage of the product life cycle?
Heavy promotion
ExplanationHeavy promotion is a common strategy during the Introduction stage.