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What is the Product Life Cycle? - Definition & Examples

Instructions:

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

question 1 of 3

What is the product life cycle?

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1. Which stage of the product life cycle is represented by a concentrated effort on promotional activities?

2. What is market saturation?

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About This Quiz & Worksheet

This quiz and corresponding worksheet are designed to test your knowledge of what happens to a product once it is manufactured and released into the market. You will be quizzed on specific terms and stages to gauge your understanding of this topic.

Quiz & Worksheet Goals

This assessment tool will measure your ability to:

  • Explain the Product Life Cycle
  • Define market saturation
  • Tell which stage focuses on promotion of the product and in which stage revenue levels off and remains constant
  • Identify the term used to describe the practice of getting revenue from a product at the end of its life cycle

Skills Practiced

  • Reading comprehension ensure that you draw the most important information from the lesson, such as details about each stage of the Product Life Cycle
  • Defining key concepts - ensure that you can accurately define main terms and phrases, such as market saturation
  • Information recall - access the knowledge you've gained regarding what happens at the end of a product's life cycle

Additional Learning

If you need more information to fully understand this process, use the lesson titled What is the Product Life Cycle? - Definition & Examples. The lesson provides:

  • An explanation of the Product Life Cycle
  • The names of each stage of the cycle
  • Information about revenue, marketing and promotions of a product
  • An example of a fictitious product to illustrate each stage
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