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प्रश्न
What is the product life cycle?
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उत्तर
The life cycle of a product is known as the product life cycle. It comprises introduction, growth, maturity and decline. After initial development, a product will be introduced in the market. Hopefully, its sales will grow and eventually the market will stabilise and become mature. Then, as new products are launched, sales for the original product will start to decline. This process is known as the product life cycle.
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संबंधित प्रश्न
Which stage of the product life cycle is marked by falling costs and rising revenues?
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
You are the Marketing Manager of a fast moving consumer goods (FMCG) company and you find that one of your products, a washing detergent, is in its grown stage. Describe the steps that you would take to increase your sales in this stage.
How is the product life cycle advantageous?
Explain the first two stages of product life cycle.
Explain the maturity stage of the product life cycle.
Explain the abandonment stage of the product life cycle.
Explain the strategies to be adopted during the introduction stage of Product Life Cycle.
Explain the strategies to be adopted during the growth stage of the Product Life Cycle.
Explain the second stage of product life cycle.
