Advertisements
Advertisements
Question
Choose the correct sequence of the Product Life Cycle.
Options
Introduction > Growth > Maturity > Decline > Abandonment
Introduction > Maturity > Growth > Decline > Abandonment
Introduction > Growth > Maturity > Abandonment > Decline
Introduction > Maturity > Growth > Abandonment > Decline
Advertisements
Solution
Introduction > Growth > Maturity > Decline > Abandonment
Explanation:
- Introduction: The product is launched into the market. Sales are typically slow as the market is not yet aware of the product.
- Growth: Sales begin to increase rapidly as the product gains market acceptance.
- Maturity: Sales growth slows as the product reaches peak market penetration and competition intensifies.
- Decline: Sales and profits begin to fall as the market becomes saturated or as newer, better products enter the market.
- Abandonment: The product is eventually phased out or discontinued.
APPEARS IN
RELATED QUESTIONS
Which stage of the product life cycle is marked by falling costs and rising revenues?
The following are all major stages of a product life cycle except ______.
In which stage of product life cycle, the company takes decision whether to maintain, harvest or drop the product?
"Pricing is fundamental to all marketing efforts." Give two reasons either for or against.
How is the product life cycle advantageous?
Explain the decline stage of the product life cycle.
Explain the abandonment stage of the product life cycle.
Explain the second and third stage of product life cycle.
What is the product life cycle?
"Introduction Stage in a product life cycle is not very risky." Justify either or against.
