Product life cycles are, in general?
A) Lengthening
B) Shortening
C) Neither lengthening nor shortening
D) It is impossible to determine how or if product life cycles are changing

Question

Quizplus · Accepted Answer

The advancement of technology and the increasing competition in the market have resulted in a shorter life cycle for products. As products are becoming obsolete faster, companies need to innovate and introduce new products faster to gain a competitive edge. Therefore, product life cycles are shortening.

Product Life Cycles Are, in General