Regarding product life cycles, good marketing managers know that:
A) any new brand must start off in the market introduction stage.
B) any product modification results in a new product life cycle.
C) product life cycles cannot be extended.
D) a firm's product can be withdrawn before its related product life cycle is over.
E) All of the above are true.

Question

Quizplus · Accepted Answer

A firm may opt to withdraw a product before its related product life cycle is over if it is not performing well in the market. This decision is usually based on factors such as declining sales, changing consumer preferences, or increased competition. Therefore, this option is the best choice. The other options are all incorrect: A is incorrect because a new brand may start in the market introduction stage, growth, maturity or decline stage depending on its market entry strategy. B is incorrect because product modifications do not necessarily result in a new product life cycle, but they may lead to a product adaptation strategy such as repositioning or product differentiation. C is incorrect because product life cycles can be extended through various strategies such as the introduction of product variants, diversification, or market expansion.

Regarding Product Life Cycles, Good Marketing Managers Know That