ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product life cycle
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Business life cycle
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Product elasticity
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none of these options
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Detailed explanation-1: -There are four stages in a product’s life cycle-introduction, growth, maturity, and decline. A company often incurs higher marketing costs when introducing a product to the market but experiences higher sales as product adoption grows.
Detailed explanation-2: -Maturity stage-The maturity stage is the 3rd stage of a normal product life cycle. It is followed by the growth stage in the product life cycle. In this stage, the sales have reached its peak level that is the product is in high demand and there is a continuous increase in sales.
Detailed explanation-3: -Ideation. The first step in the product development life cycle is ideation, or generating new ideas. Validation. Prototyping. Marketing. 5. Development. Launch. Improvement. 27-Oct-2022