The CEO of David's firm just came back from a business seminar. He called David into his office and stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that
A)the product life cycle is not a useful concept.
B)it is often impossible to identify with precision where a product is in the product life cycle.
C)the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation.
D)the idea has been discredited by recent research.
E)the product life cycle works only for certain types of firms.

Question

Quizplus · Accepted Answer

While the product life cycle can be a helpful tool, it is often difficult to precisely identify where a product is in its life cycle. Additionally, some companies may place more emphasis on the diffusion of innovation rather than the traditional product life cycle.

The CEO of David's Firm Just Came Back from a Business