The product life cycle, as opposed to the competitive advantage life cycle:
A)helps an entrepreneur visualise the sales and profits of a product from the time it is introduced until it is no longer on the market.
B)details when a strength can be used in the market and when not to attack a rival.
C)reflects sales trends for the company's multiple products or services.
D)is based on the overall sales of the total product or service line.

Question

Quizplus · Accepted Answer

The product life cycle is a model that shows the stages a product goes through from introduction to decline. It helps entrepreneurs visualise the sales and profits of a product over time. The competitive advantage life cycle, on the other hand, is focused on when to use a competitive strength in the market and when to avoid attacking rival companies. Options C and D are incorrect because they describe different concepts unrelated to the product life cycle.

The Product Life Cycle, as Opposed to the Competitive Advantage