The Hayes and Wheelwright matrix defines product life cycles in terms of increasing volume and decreasing variety.

Question

Quizplus · Accepted Answer

The Hayes and Wheelwright matrix defines product life cycles in four stages: low volume, high variety; high volume, low variety; high volume, high variety; and low volume, low variety. It does not state that volume necessarily increases and variety necessarily decreases along the product life cycle, as each product may follow a unique pattern of demand and variety.

The Hayes and Wheelwright Matrix Defines Product Life Cycles in Terms