BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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false
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Detailed explanation-1: -The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline. This concept is used by management and by marketing professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging.
Detailed explanation-2: -Which of the following is/are product life cycle extension strategies? Market development.
Detailed explanation-3: -Maturity Stage: During the maturity stage of the product life cycle, the sharp growth in sales begins to slow, and profits at the beginning of this stage decline. The most notable characteristic of this stage is the peaking of the product’s sales and profit curves.
Detailed explanation-4: -The Augmented product is the non-physical part of the product.