Product Life Cycle Flashcards
1
Q
Introduction: Objective
A
Great product awareness and trial
2
Q
Growth: Objective
A
Maximize market share
3
Q
Maturity: Objective
A
Maximize profit while defending market share
4
Q
Decline: Objective
A
Reduce expenditure and milk the brand
5
Q
List the order of greatest cost to least cost
A
- Introduction
- Growth
- Maturity
- Decline
6
Q
Introduction: Product
A
Offer a basic product
7
Q
Growth: Product
A
Offer product extensions, services, warranty
8
Q
Maturity: Product
A
Diversify brands and models
9
Q
Decline: Product
A
Phase out weak items
10
Q
Introduction: Price
A
Charge cost-plus
11
Q
Growth: Price
A
Price to penetrate market
12
Q
Maturity: Price
A
Price to match or best competitors
13
Q
Decline: Price
A
Cut prices
14
Q
Introduction: Distribution
A
Build selective distribution
15
Q
Growth: Distribution
A
Build intensive distribution
