Question 1: What do you mean by the term Product Life Cycle?
Question 2: Describe what are the various phases of PLC are?
Question 3: What specific marketing strategies are adopted in each phase of PLC?
Question 4: What are hostile and declining markets?
Question 5: What strategies can be adopted by a firm in case of hostile and declining markets? Describe by using any industrial sector of your preference.
Question 6: In ‘Mature-market’, ‘Declining market’, and ‘Hostile market’ and ‘Rural market’ which marketing strategies are adopted.
Question 7: Identify and describe some potential problems with the product life cycle.
Question 8: ‘In the growth phase of the product life cycle, the firm faces a trade-off between high market share and high current profit’. Describe this statement.
Question 9: What are the main reasons a product reaches the decline phase of the product life cycle?
Question 10: How PLC analysis is significant to a marketing manager?