As a Product Moves Through Its Product Life Cycle

question 37

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 of the above are true.

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Definitions:

Productivity Increase

An improvement in the efficiency of production, often measured by the output per unit of labor or resources.

Profit-Sharing Plan

A company program that gives employees a share in the profits of the company.

Intermittent Reinforcement

A behavioral training strategy where rewards or punishments are given out irregularly, contributing to stronger or more lasting behavioral responses.

Successive Approximations

A process of breaking down a complex skill or behavior into smaller, achievable steps and rewarding progress.