Product cycle theory is most appropriate for technology-based products.

Question

Quizplus · Accepted Answer

Product cycle theory is based on the idea that all products go through a cycle of introduction, growth, maturity, and decline. This theory is most applicable to technology-based products because these products often have shorter life cycles and are subject to rapid innovation and changing consumer preferences. Therefore, technology-based products require a more dynamic approach to product development and marketing, which is reflected in the product cycle theory.

Product Cycle Theory Is Most Appropriate for Technology-Based Products