In which way does the concept of product life cycle (PLC)help marketing managers?
A) It tells managers the length of a product's life cycle.
B) It helps marketers forecast future events and suggest appropriate strategies.
C) It dictates the marketing strategy to be used for a product.
D) It informs marketers about the duration of a product in the various stages of its life cycle.

Question

Quizplus · Accepted Answer

The product life cycle concept helps marketers forecast future events and suggest appropriate strategies by providing a framework to understand the stages a product goes through, allowing for strategic planning and adjustments.

In Which Way Does the Concept of Product Life Cycle