product lifecycle

Question 1

what are the five product lifecycle stges?

Answer 1

research and development,introduction,growht,maturity and decline

Question 2

what 4 are included in the product life cylcle graph?

Answer 2

introduction,growth,maturtiy and decline

Question 3

explain research and development

Answer 3

Money is invested into developing the product, carrying out research and making a prototype . The business is making a loss at this stage.

Question 4

explain introdcution

Answer 4

The product is launched onto the market. The product is heavily advertised to inform customers. Sales will be low at this stage with little to no profit.

Question 5

explain growth

Answer 5

The product is becoming more well - known and popular. Advertising continues but at a lower rate than before. Sales are rapidly increasing . Profit is beginning to be made.

Question 6

explain maturity

Answer 6

Sales and profits have reached their peak. The product is well established on the market. Advertising is used only as a reminder. New models/ variations may be introduced to encourage long term sales.

Question 7

explain decline

Answer 7

The product popularity has fallen. Sales and profits are falling. There is strong competition in the market.