The most important determinant of the length of a product's life cycle is the rate of technological change.

Question

Quizplus · Accepted Answer

The rate of technological change is the most significant factor in determining the length of a product's life cycle. As technology advances, new and improved products are created, which can quickly replace existing products, leading to shorter product life cycles. Conversely, slower technological advancements may result in longer life cycles for products.

The Most Important Determinant of the Length of a Product's