It has been observed that most new products have shorter product life cycles. What is the reason for this?
A) Most new products do not use technology.
B) Most new products are not backed by a marketable idea.
C) New products do not get adequate management support.
D) Social and governmental constraints lead to this failure.
E) Rivals quickly copy products that are successful.

Question

Quizplus · Accepted Answer

Rivals quickly copying successful products is a common reason for shorter product life cycles. As soon as a new product becomes successful, competitors rush to replicate its features, pricing, and marketing strategy, which can quickly erode the original product's market share and profitability. This dynamic is especially true in industries with low entry barriers, such as technology or fast-moving consumer goods. As a result, companies must constantly innovate and differentiate their products to stay ahead of the competition in such an environment.

It Has Been Observed That Most New Products Have Shorter