AOS2 the product life cycle Flashcards
1
Q
the stages a product passes through:
A
- introduction
- growth
- maturity
- decline
- extension
2
Q
the introduction stage
A
when the product is launched
3
Q
the growth stage
A
when the product begins to increase sales to customers. brand acceptance and market share are actively pursued by the producers of the product.
4
Q
the maturity stage
A
when the product is fully accepted into the market and when sales reach there peak.
5
Q
the decline stage
A
when the product no longer appeals to the customer.
6
Q
the extension stage
A
instead of going to a decline some products can be revived and begin a new cycle of growth and maturity
7
Q
why do products decline?
A
- technological advancements
- consumer behaviour
- changing public perceptions on what is fashionable
