BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Development, introduction, growth, saturation, maturity and decline
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Development, introduction, growth, maturity, saturation and decline.
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Introduction, development, growth, maturity, saturation and decline.
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Growth, development, introduction, maturity, saturation and decline.
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Detailed explanation-1: -A product life cycle is a management tool that evaluates a product’s journey from development to withdrawal from the market. As mentioned earlier, it includes four stages-introduction, growth, maturity, and decline.
Detailed explanation-2: -The product life cycle is the progression of a product through 5 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: -A product’s life cycle is usually broken down into four stages; introduction, growth, maturity, and decline. Product life cycles are used by management and marketing professionals to help determine advertising schedules, price points, expansion to new product markets, packaging redesigns, and more.