The sales and profits of an individual product may not follow the life cycle pat

Question

The sales and profits of an individual product may not follow the life cycle pattern.

During the sales decline stage of the product life cycle, no firm can earn a profit.

During the introduction stage of the product life cycle:

During the introduction stage, what would hinder acceptance of a new product?

During the market growth stage of the product life cycle:

What is the most important reason why industry sales level off in the market maturity stage of the product life cycle?

Gerhard Company has seen most of its competitors drop out of its product market due to declining sales and profits. However Gerhard still has much demand for its products from a small group of loyal customers. In which stage of the product life cycle is this product market?

The length of a product's life cycle:

Regarding product life cycles, a good marketing manager knows that:

Generating "socially responsible" new product ideas:

True

Explanation / Answer

1. True

when a firm tries to increase sales by offering new or improved products I.e., that sales of an individual firm's product follows a general pattern.the sales and profits of an individual brand may or may not follow the life cycle.

2. False

During decline, sales growth becomes negative, profits decline, competition remains high, and the product ultimately reaches its ‘death’.

3. C.) Promotion is likely to be needed to increase primary demand

If the product is new on the market, users may not be aware of its true potential, necessitating widespread information and advertising campaigns through various media.

4. C.) All of the above

The new product may not be compatible with the buyer's values.

5. A.) Industry sales grow slowly

During this Growth stage, the product or the innovation becomes accepted in the market, and as a result industry sales and revenues start to increase.

Consumers may not see the new product as offering a superior alternative to whatever they are currently using.

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