Commercial Applications
Which stage of the product life cycle is most likely represented by the products in "D category" in the image below?
- Introduction
- Growth
- Maturity
- Decline
Marketing Mix
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Answer
Decline
Reason — In the product life cycle, the stages occur in the sequence: Introduction (A), Growth (B), Maturity (C), Decline (D), and Abandonment (E). The products shown in category D (such as obsolete items) are characterised by sharply falling sales and gradual displacement by new and superior products, which indicates the decline stage.
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Related Questions
The usual source for new products is ……………
- Marketing research
- R&D
- Accidental discoveries
- A variety of sources including customers, competitors
A company launches a new product in the market with the following conditions:
(i) The product is priced significantly higher than competitors.
(ii) The target market is affluent consumers who value exclusivity.
(iii) The product is heavily promoted as a luxury item.
Which pricing strategy is the company likely using?
- Penetration Pricing
- Cost-Plus Pricing
- Skimming Pricing
- Parity Pricing
Assertion (A): The decline stage of the product life cycle is characterized by a decrease in sales and market share.
Reason (R): Companies should invest heavily in marketing and innovation during the decline stage to revive the product's growth.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A.
- Both A and R are true but R does not explain A.
In which stage of product life cycle, the company takes decision whether to maintain, harvest or drop the product?
- Introduction
- Growth
- Maturity
- Decline