Ronak Group of Companies Assistant Manager Sales & Marketing Interview Questions and Answers

Product life cycle is the stages a product goes through from introduction to decline.

• Introduction stage - product is launched, sales are low, heavy marketing is needed

• Growth stage - sales increase, competition enters the market, profits rise

• Maturity stage - sales peak, competition is high, marketing focuses on differentiation

• Decline stage - sales decrease, product becomes obsolete, marketing may be reduced or discontin

4 P's refer to the marketing mix elements - Product, Price, Place, and Promotion.

• Product: Refers to the actual goods or services being offered to customers.

• Price: Refers to the amount customers pay for the product or service.

• Place: Refers to the distribution channels used to make the product available to customers.

• Promotion: Refers to the marketing activities used to communicate the benefits of the product and persuade