Which of the following is a significant challenge presented by the product life cycle?
A) new-product development
B) static tastes and zero competition
C) anti-trust laws
D) measurement of results
E) plotting the stages as a product goes through them

Question

Quizplus · Accepted Answer

New-product development is a significant challenge of the product life cycle because companies must continue to innovate and develop new products to maintain relevance and profitability. As products move through the stages of the life cycle, it may become more costly and time-consuming to develop new products, especially if the market becomes saturated or other external factors impact the industry. Therefore, companies must continually invest in research and development to create new products and stay ahead of the competition.

Which of the Following Is a Significant Challenge Presented by the Product