The product life cycle is the concept that states that products have a limited profit-producing life.

Question

Quizplus · Accepted Answer

The product life cycle theory suggests that products have a limited life span in terms of sales and revenue generation. As a product evolves through different stages, from introduction to growth, maturity, and finally decline, it becomes less profitable over time. Eventually, the product will become obsolete, and newer products will take its place. Therefore, the statement is true.

The Product Life Cycle Is the Concept That States That