Marketing Chapter 10

Key characteristics of the maturity stage are which two of the following?

1) Intense Competition on price occurs 2) Marketing costs increase to gain new buyers

Which of the following are the primary ways to manage a product through its life cycle?

1) modifying the product 2) modifying the market 3) repositioning the product

Product modification consists of altering the product's quality, performance, or Multiple choice question.

appearance

During the ________ stage of the product life cycle, a company often minimizes promotion. Multiple choice question.

decline

During the decline stage of the product life cycle, firms will typically have lower sales as well as

fewer competitors

Typically speaking, during the introduction stage sales are ______ and profit is ______.

growing slowly; minimal

In _________________the stage of the product life cycle, the product gains acceptance, demand and sales increase, and there are more competitors.

growth stage

A graph can to be used to show the changes in sales revenue and profit over the stages of the product

life cycle

Besides sometimes developing new products, the product manager also manages an existing product through its

life cycle

The ________________stage of the product life cycle is characterized by a slowing of growth in total industry sales or product class revenue.

maturity stage

The growth stage of product life cycle is characterized by more competition and a ________ in sales.

rapid increase

Important aspects of product life cycles include the length of the cycle, its shape, how it varies depending of the type of product, and

the rate of consumer adoption