Question

Which of the following is typical of products such as the earliest iPod when it is in the market introduction phase of the product life cycle? Multiple Choice Tough competition with competing products Low sales volume Sales and profits rising rapidly Vigorous price competition from dying products

Answer 1

Answer:

The correct answer is: Low sales volume.

Explanation:

This is a part of the introduction stage of the product life cycle. Normally, when a product appears in the market, as it is new and unknown, the sales are not high. Even more with innovating and completely new products, when people still don't trust it or simply haven't discovered it. This is where the marketing tools work on actually making a market for it.

If this first stage is successful, then sales and profits start rising rapidly.

Tough competition with competing products is a marketing strategy in the situations when we launch a product that already exists on the market, but we want to emphasize that ours is better or special for some reason.

Vigorous price competition from dying products - If we are talking about dying products, it means that we have already come to the decline stage.