GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Introduction, maturity, growth, decline
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Introduction, growth, decline, maturity
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Introduction, growth, maturity, decline
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Introduction, decline, maturity, growth
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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: -The product life cycle is the progression of a product through five distinct stages: development, introduction, growth, maturity and decline. The concept was developed by German economist Theodore Levitt, who published his Product Life Cycle model in the Harvard Business Review in 1965. We still use this model today.
Detailed explanation-3: -The 4 stages of the product life cycle are introduction, growth, maturity, and decline. Learn how to leverage this into your business strategy. Do you want to build a successful product? If so, you need to understand the product life cycle.
Detailed explanation-4: -This cycle can be broken up into different stages, including-development, introduction, growth, maturity, saturation, and decline.