Commercial Applications
Choose the correct sequence of the product Life Cycle.
- Introduction > Growth > Maturity > Decline > Abandonment
- Introduction > Maturity > Growth > Decline > Abandonment
- Introduction > Growth > Maturity > Abandonment > Decline
- Introduction > Maturity > Growth > Abandonment > Decline
Answer
Introduction > Growth > Maturity > Decline > Abandonment
Reason — A product moves through five different stages of its life cycle in the sequence: Introduction (product is launched), Growth (sales rise rapidly), Maturity (sales reach peak and stabilise), Decline (sales fall sharply), and finally Abandonment (product is dropped).
Related Questions
…………… determines the sales volume and the profit margins.
- Price
- Place
- People
- Promotion
Marketing Mix represents the …………… of an enterprise.
- Total marketing program
- Total selling program
- Promotion techniques
- Total distribution plan
The pricing strategy involves charging according to what competitors are charging:
- Going rate pricing
- Cost plus pricing
- Penetrating pricing
- Skimming pricing
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
- Maturity stage
- Decline stage
- Growth stage
- Introduction stage