The industry life cycle is of the same format as the Product Life Cycle, but of much greater duration.

Question

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The industry life cycle is a long-term model that encompasses the entire life cycle of an industry, from inception to decline. While the length of each stage may vary, the overall duration of the industry life cycle is much greater than that of the product life cycle, which only focuses on the life cycle of a specific product.

The Industry Life Cycle Is of the Same Format as the Product