The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Question

Quizplus · Accepted Answer

The product life cycle concept provides a general framework for understanding the typical stages that a product goes through from introduction to decline. However, the specific trajectory of a product's life cycle can be influenced by a variety of factors, such as changes in consumer preferences, advances in technology, and competitive pressures. As a result, it can be difficult for managers to predict exactly how long each stage will last or how steeply sales will rise or fall during each phase.

The Most Challenging Part of Applying the Product Life Cycle