Match each item with the correct statement below.
-The progression of a product through introduction,growth,maturity,and decline stages is called its _____.
A)marketing mix
B)specialty products
C)product
D)services
E)convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2B)
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking

Question

Quizplus · Accepted Answer

The progression of a product through introduction, growth, maturity, and decline stages is called its product lifecycle.

Answer: O
 The combination of all the products a company offers is called its product mix.

Answer: P
 A group of related products offered by a company is called its product line.

Answer: Q
 When a company adds a new product to an existing product line, it's called a line extension.

Answer: R 
 Total quality management is a continuous improvement process that ensures every aspect of a company's operation is focused on delivering quality products and services to customers.

Answer: T
 Benchmarking is the process of comparing a company's performance to that of its competitors to identify strengths and weaknesses and improve performance.

Match Each Item with the Correct Statement Below