Product life cycle (PLC) analysis can be useful in:
A)Developing an external/internal strategy matrix.
B)Identifying long-term competitive disadvantages.
C)Selecting strategic alternatives based on the principle that all products and services go through several distinct stages.
D)Identifying threats posed by competitors supplying or producing identical products.

Question

Quizplus · Accepted Answer

The product life cycle analysis is used to select strategic alternatives based on the principle that all products and services go through several distinct stages such as introduction, growth, maturity, and decline. Therefore, it helps in identifying opportunities and threats to the product in each stage and assists in developing effective strategies to prolong and maximize the product's lifecycle. Hence, option C is the best choice. Options A, B, and D do not accurately describe how PLC analysis is useful.

Product Life Cycle (PLC) Analysis Can Be Useful In