Product & Service Life Cycles: Definition, Stages & Management

Instructions:

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

question 1 of 3

In the product or service life cycle, what is harvesting?

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1. Which stage of the product/service life cycle shows a consistent increase in sales near its beginning and a slower increase near its end?

2. Which stage of the product/life cycle has a product/service become stagnant?

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About This Quiz & Worksheet

What do you know about the product and service life cycle? The quiz tests your knowledge of stages in the cycle as well as relevant definitions.

Quiz & Worksheet Goals

The quiz asks you to:

  • Define harvesting
  • Identify the cycle stage where sales significantly increase
  • Name the stage in the cycle where a product/service becomes stagnant
  • Give the definition of re-positioning
  • Explain divesting

Skills Practiced

  • Defining key concepts - demonstrate your ability to define key terms, including harvesting, re-positioning and divesting
  • Information recall - access your understanding to name the stage in the cycle where sales consistently increase
  • Reading comprehension - ensure that you pull the most essential information from the product/service cycle lesson

Additional Learning

Enhance your understanding of this topic with the lesson entitled Product & Service Life Cycles: Definition, Stages & Management. The lesson teaches you to:

  • Name the different stages in the product/service life cycle
  • Note how a product/service moves through the cycle by following a hypothetical example
  • Understand various tactics used by management during the decline stage
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