Shorter product life cycles are common in industries characterized by low level of competition.

Name: Shorter product life cycles are common in industries characterized by low level of competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Shorter product life cycles are often driven by high levels of competition, as companies are constantly innovating and striving to stay ahead of their rivals. In less competitive industries, products may have longer life cycles because there is less pressure to continuously improve and update them.

Shorter Product Life Cycles Are Common in Industries Characterized by Low