Life Cycle Of Products Flashcards
1
Q
Trial and Error, innovating
A
Product Development
2
Q
Making the product into something more profitable
A
Introduction
3
Q
Rising profits and sales
A
Growth
4
Q
Peak profit and sales
A
Maturity
5
Q
Downfall in profits and sales
A
Decline
6
Q
What are you planning for the different stages of Life Cycle?
A
4P’s
7
Q
Finding best product, building familiarity
A
Product
8
Q
Choosing selective distribution
A
Place
9
Q
Building primary demand
A
Promotion
10
Q
Choosing right price(market skimming and pricing)
A
Price
11
Q
Trying to win against competitors
A
Competitive Situation
12
Q
High-Initial prices than lower prices
A
Market-Skimming
13
Q
Sets low-initial price than rises
A
Market Penetration
14
Q
How your consumers perceive your product concerning competing brands
A
Positioning
