Which of the following is a feature of the product life cycle (PLC)?
A)It allows firms to shorten the development process of a product and reduce costs.
B)It helps marketers forecast future events and suggest appropriate strategy.
C)It dictates the marketing strategy to be used for a product.
D)It tells managers the length of a product's life cycle or its duration in any stage.

Question

Quizplus · Accepted Answer

The product life cycle (PLC) helps marketers forecast future events and suggest appropriate strategies by providing a framework to understand the stages a product goes through in the market, from introduction to decline.

Which of the Following Is a Feature of the Product