Which of the previously discussed life cycle interest you the most and why?

1. Which product life cycle stage is the most important?
2. Which of the following stage of product life cycle is most expensive?
3. What is the importance of knowing where your product is in the product life cycle in terms of pricing?
4. Why is the product life cycle important?
5. Which stage of the product life cycle should focus on getting the product into the market as soon as possible?
6. Which stage is there in product life cycle that focuses on expanding market and creating product awareness and trial is the?

Which product life cycle stage is the most important?

Maturity: This is the most profitable stage, while the costs of producing and marketing decline. Decline: A product takes on increased competition as other companies emulate its success—sometimes with enhancements or lower prices. The product may lose market share and begin its decline.

Which of the following stage of product life cycle is most expensive?

Introduction. The introduction stage is often preceded by a research and development stage. For the purposes of the product life cycle stages, we will start from when the product is first introduced to the marketplace. This stage is by far the most expensive stage in a product's life cycle.

What is the importance of knowing where your product is in the product life cycle in terms of pricing?

If you are considering entering an industry and making a product, knowing where the product is in its life cycle can provide valuable information of how to position your product in the market in terms of price, promotion and distribution. Products typically go through four stages during their lifetime.

Why is the product life cycle important?

The product life-cycle is an important tool for marketers, management and designers alike. It specifies four individual stages of a product's life and offers guidance for developing strategies to make the best use of those stages and promote the overall success of the product in the marketplace.

Which stage of the product life cycle should focus on getting the product into the market as soon as possible?

In the introduction stage, for example, your marketing efforts will likely be focused on building brand and product awareness, as well as establishing and connecting with a target market. Yet in the maturity stage, you'll be fighting to maintain market share.

Which stage is there in product life cycle that focuses on expanding market and creating product awareness and trial is the?

The stage in the product life cycle that focuses on using a cost-plus formula and creating product awareness and trial is the: decline stage.