Product Life Cycle
What is the first stage of the product life cycle?
Creation and Development - making and producing prototypes of your product.
What one of the four P's depends on the demand of the product
Price
At what stage/stages does business Output Increase?
Recovery / Upturn
What is the second stage of the product life cycle?
Introduction - rollout of your product
What one of the four P's is used to get your product well-known?
Promotion
At what stage is confidence the highest
Boom
What is the third stage of the product life cycle?
growth - your product gets its first sales, could be semi popular.
What one of the four P's is to figure out where your product is most sought after?
Place
At what stage does the inflation of your business fall slightly?
Recession / Downturn
What is the fourth stage of the product life cycle?
Maturity - your product has been in the market for a while.
You need selling points for this one of the four P's
Product
In what stage is unemployment at its highest?
Slump / Depression
What is the fifth stage of the product life cycle?
Decline - Your product is obsolete or just not at its prime anymore, sales are going down.
What are all of the four P's
Promotion, Place, Price, Product
Name the worst stage for your business to be in.
Slump