As a Product Moves Through Its Product Life Cycle

question 62

Multiple Choice

As a product moves through its product life cycle,

• A)a firm should change its target market-but not its marketing mix.
• B)the competitive situation moves toward monopoly.
• C)industry profits keep increasing along with industry sales.
• D)customers' needs and attitudes may change.
• E)All these answers are correct.

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Definitions:

Theory X

A management assumption which suggests that employees are inherently lazy and will avoid work if they can, thereby needing to be closely supervised and controlled.

Extrinsic Rewards

Rewards that are external to the task being performed and are often tangible, such as money, prizes, or other physical rewards, used to motivate behavior.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements.

Sales Performance

A measure of how effectively a company's sales team achieves sales goals.