| A | B |
|---|
| Decline | The stage of the product life cycle in which profits begin to erode |
| Introduction | The stage of the product life cycle in which many products fail |
| Bundling | A strategy that involves selling a package of products together for one price |
| Early Adopter | A person who purchases a new product before most others do |
| Skimming | A strategy that involves setting prices high to recover costs |
| Product Life Cycle | The stages a product moves through from the time it enters the market until the time it exits the market |
| Economies of scale | The phrase that refers to costs going down as a company makes more and more of a product |
| Market saturation | A state in which the only chance for increased sales occurs with population growth or a shift in market share |
| Growth | The state of the product life cycle in which the product quickly becomes accepted in the market |
| Harvesting | A strategy that involves lowering a product's costs but continuing to sell it |
| Maturity | The longest-loasting stage of the product life cycle |
| Penetration pricing | A strategy that involves setting prices low to achieve market acceptance |
