Solution Manual for MKTG CHAPTER 11 100% Pass
product life cycle - Answers This describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline
introductory phase - Answers This stage of the Product Life Cycle occurs when a product is introduced to ...
product life cycle - Answers This describes the stages a new product goes through in the marketplace:
introduction, growth, maturity, and decline
introductory phase - Answers This stage of the Product Life Cycle occurs when a product is introduced to
its intended target market. During this period, sales grow slowly, and profit is minimal. The lack of profit
is often the result of large investment costs in product development
introductory phase - Answers The first stage of the Product Life Cycle
introductory phase - Answers This stage of the Product life Cycle has:
- little competition
- one product
- skimming or penetration pricing
- limited place distribution
- informative promotion
skimming strategy - Answers This pricing strategy involves pricing the product high to help the company
recover the costs of development as well as capitalize on the price insensitivity of early buyers
penetration pricing - Answers This pricing strategy involves pricing the product low; trying to get as
many people as possible to buy the product ; this pricing strategy helps build unit volume, but a
company must closely monitor costs
Growth Phase - Answers This phase of the Product Life Cycle is characterized by rapid increases in sales.
It is this stage that competitors appear, and results in more aggressive pricing and profit peaking
growth phase - Answers The second phase of the Product Life Cycle
growth phase - Answers This phase of the Product Life Cycle has:
- more competitors
- more versions of a product
- gain market share
- more outlets
- stress points of difference
, maturity phase - Answers This phase of the Product Life Cycle is characterized by a slowing of total
industry sales or product class revenue. Also, the marginal competitors begin to leave the market. Sales
increase at a decreasing rate in this stage as fewer buyers enter the market.
maturity phase - Answers This phase of the Product Life Cycle has:
-many competitors
-full product line
-defend market share, profit
-maximum outlets
- reminder oriented promotion
maturity phase - Answers The third phase of the Product Life Cycle
decline phase - Answers this stage of the Product Life Cycle occurs when sales drop. Products in this
stage tend to consume a disproportionate share of management and financial resources relative to their
future worth
decline phase - Answers This phase of the Product Life Cycle has:
-reduced competition
- best selling products
- stay profitable price
- fewer outlets
- minimal promotion
decline phase - Answers the fourth phase of the Product Life Cycle
harvesting - Answers This term refers to when a company retains the product but reduces marketing
costs. The product continues to be offered, but salespeople do not allocate time in selling nor are
advertising dollars spent.
deletion - Answers this term refers to dropping the product from the company's product line, is the
most drastic strategy.
high learning product - Answers This product is one for which significant customer education is required
and there is an extended introductory period
low learning product - Answers these products sales begin immediately because little learning is
required by the consumer
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