Concerning product life cycles:
A) each of a producer's individual products follows the life cycle pattern.
B) in the early part of market maturity, new products begin to replace the old.
C) the stages usually have varying lengths.
D) in general, life cycles are getting longer.
E) None of the above is true.

Question

Quizplus · Accepted Answer

The stages of a product life cycle do not have fixed lengths and can vary depending on the product and market conditions. Therefore, option C is correct. Option A is incorrect as not all of a producer's products follow the same life cycle pattern. Option B is incorrect as the early part of market maturity is characterized by a slower growth rate, not by replacement of old products. Option D is incorrect as life cycles are generally becoming shorter due to rapid technological advancements and changing customer preferences.

Concerning Product Life Cycles