To what extent is an industry life cycle pattern applicable to industries in general?

Question

Quizplus · Accepted Answer

The Answer is The industry life cycle is a general model applicable to all industries.
However, the application of such a model may vary depending on several factors.
First, the duration of the four stages varies depending on the industry. For example, life cycles last longer for heavy and infrastructure industries than for consumer goods.
Second, the nature of the industry impacts its life cycle. Some industries may never enter a decline stage, because they provide customers with basic necessities, whereas others may experience a rejuvenation stage (such as the motorcycle industry, and the TV manufacturing industry).
Finally, geography entails different patterns of life cycle because the level of economic development of a country influences the cycle of that industry.
Overall, the applicability of this model must be modulated regarding different variables, but does not eliminate its value for understanding the evolution of an industry.

To What Extent Is an Industry Life Cycle Pattern Applicable