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Mekhanik [1.2K]
3 years ago
14

The marketing challenge of making potential customers aware of the product's existence and its features, benefits, and uses is p

revalent in which of the product life-cycle stages? a maturity b introduction c decline d growth e extension
Business
1 answer:
Svetllana [295]3 years ago
7 0

Answer:

The correct option is A that is introduction

Explanation:

The product life cycle is the cycle which states the progression of an item  or product via the 4 stages of its time on the market. And the stages are: Introduction, Growth, Maturity and Decline.

So, making the customer aware of the existence and the features of the product, the introduction stage is the one which will help the company to make the product aware in the market.

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What is accountability
Rama09 [41]

Accountability is a promise that a person or a group will be judged on how they perform or behave in relation to anything for which they are accountable.

Though more from the standpoint of oversight, the phrase refers to accountability. For instance, an employee might be in charge of making sure that a response to an RFP (request for proposals) complies with all the standards. Consequences may or may not occur if the work is not completed satisfactorily. Accountability, on the other hand, indicates that the worker is required to successfully complete the task and will need to at least justify their failure.

Learn more about Accountability here

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5 0
1 year ago
Describe the life cycle of a product and explain profitability and sales volume at each stage
Helga [31]

Answer:

Product Life Cycle: Overview

The product life cycle (PLC) describes a product's life in the market with respect to business/commercial costs and sales measures. It proceeds through multiple phases, involves many professional disciplines and requires many skills, tools and processes.

This is not to say that product lives cannot be extended – there are many good examples of this – but rather, each product has a ‘natural’ life through which it is expected to pass.

The stages of the product life cycle are:

Introduction

Growth

Maturity

Decline

PLC management makes these three assumptions:

Products have a limited life and, thus, every product has a life cycle.

Product sales pass through distinct stages, each of which poses different challenges, problems and opportunities to its parent company.

Products will have different marketing, financing, manufacturing, purchasing and human resource requirements at the various stages of its life cycle.

The product life cycle begins with the introduction stage (see ). Just because a product successfully completes the launch stage and starts its life cycle, the company cannot take its success for granted.

image

Product Development and Product Life Cycle: The Product Life Cycle follows directly after new product development.

A company must succeed at both developing new products and managing them in the face of changing tastes, technologies and competition. A good product manager should find new products to replace those that are in the declining stage of their life cycles; learning how to manage products optimally as they move from one stage to the next.

Product Lifecycle Management Stage 1: Market Introduction

This stage is characterized by a low growth rate of sales as the product is newly launched and consumers may not know much about it. Traditionally, a company usually incurs losses rather than profits during this phase. Especially if the product is new on the market, users may not be aware of its true potential, necessitating widespread information and advertising campaigns through various media.

However, this stage also offers its share of opportunities. For example, there may be less competition. In some instances, a monopoly may be created if the product proves very effective and is in great demand.

Characteristics of the introduction stage are:

High costs due to initial marketing, advertising, distribution and so on.

Sales volumes are low, increasing slowly

There may be little to no competition

Demand must be created through promotion and awareness campaigns

Customers must be prompted to try the product.

Little or no profit is made owing to high costs and low sales volumes

Growth

During the growth stage, the public becomes more aware of the product; as sales and revenues start to increase, profits begin to accrue.

Explanation:

4 0
2 years ago
A market is described by the following supply-and-demand curves:QS = 2PQD = 300−PSuppose the government imposes a price ceiling
Zarrin [17]

Answer:

Binding

$100

200

200

Shortage

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good.

A price ceiling is binding when the price ceiling is below the equilibrium price.

To find the equilibrium price, equate qs to qd because at equilibrium, quantity supplied is equal to quantity demanded.

2P = 300 - P

3P = 300

P = 100

Equilibrium price is $100.

$100 > $90. Therefore, price ceiling is binding.

To find quantity supplied, plug in the value of P into the equation for quantity supplied

QS = 2(100) = 200

To find quantity demanded, plug in the value of P into the equation for quantity demanded

QD = 300 - 100 = 200

when price is below equilibrium price, quantity demanded increases while the quantity supplied decreases. This leads to a shortage.

I hope my answer helps you

3 0
3 years ago
A new casino wants to hire about 1,000 employees for its new resort. Applicants are asked to complete an online questionnaire th
jarptica [38.1K]

When only those applicants who have previously worked in hotels and casinos will be considered eligible for the next step in the hiring process. This best exemplifies a "pre-employment screening process".

<h3>What is a pre-employment screening process?</h3>

Pre-employment screening has several names, including: Background investigations, background screening, and criminal investigations

Some characteristics of pre-employment screening process are-

  • Pre-employment screening entails gathering all the data necessary to make a wise hiring decision.
  • This entails locating applicants who satisfy established job requirements and confirming the data they supply.
  • Pre-employment screening procedure includes reviewing applications and deciding whether to hire someone.
  • Various components, such as job screening questions included in the employment application, may be part of the screening process.
  • Employing tests that are cognitive, behavioral, or skills-based, conduct pre-employment testing. including phone screenings, video interviews, and in-person meetings with candidates.
  • Pre-employment investigations can differ depending on the applicant, the position, etc. However, it typically takes three to four weeks.

To know more about purpose of pre-employment screening, here

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5 0
2 years ago
3) When there are more substitutes for a product, the ________ for the product is ________. A) demand; less price elastic
balu736 [363]

Answer:

Explanation:

When there are more substitutes for a product, the demand for the product is more price elastic. The implication of this is that the demand of such product will drop when there is increase in it price because people can get another product which will play the same role with the previous at a lesser price. Hence, the demand for the product vis more price elastic.

6 0
3 years ago
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