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Growth Stage of the Product Life Cycle: Example & Overview

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What percentage of products introduced each year become successful in the market?

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1. A common reaction for companies with products in the growth stage is to?

2. In addition to the control of price, supply, and demand, many companies that introduce new products to the market will strategically control what?

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About This Quiz & Worksheet

The growth stage can be considered 'the sweet spot' in a product's life cycle, and this quiz and corresponding worksheet will help you gauge your knowledge of this critical time. You should do well on the quiz if you know how companies and competitors respond during this stage.

Quiz & Worksheet Goals

Use this quiz/worksheet combo to review:

  • Percent of products that ultimately become successful each year
  • Reaction of companies during the growth stage
  • What companies that introduce new products will strategically try to control
  • How the competition might respond to products in the growth stage
  • Examples of products currently in the growth stage

Skills Practiced

Students will practice the following skills:

  • Interpreting information - verify you can read information regarding competition in the marketplace and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about successful products on the market each year
  • Reading comprehension - ensure that you draw the most important information from the related business lesson

Additional Learning

To learn more about this exciting time for any business, review the corresponding lesson called Growth Stage of the Product Life Cycle: Example & Overview. This lesson will help you:

  • Define what the growth stage is
  • Understand where the growth stage occurs in a product's life cycle
  • Show how the company with the product might try to maximize their profits
  • Appreciate the effects of additional marketing during the growth stage
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