Product Life Cycle Flashcards
1
Q
What are the stages of The Product Life Style?
A
Introduction
Growth
Maturity
Decline
2
Q
Introduction
A
When products are first launched on the market.
3
Q
Growth
A
When the sales of products rise rapidly.
4
Q
Maturity
A
When the sales of products peak.
5
Q
Decline
A
When the sales of products fall
6
Q
What are the Extension Strategies?
A
Product
Price
Place
Promotion
7
Q
Extension Strategy - Product
A
Change product
Introduce new flavours
Change packaging
8
Q
Extension Strategy - Price
A
Change price - lower it to allow new customers to buy.
9
Q
Extension Strategy - Place
A
Change place - Can be sold online
10
Q
Extension Strategy - Promotion
A
Different advertising techniques:
Celeb endorse
TV advert
