The CEO of David's firm just came back from a business seminar, and he called David into his office. He 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) his job may be threatened by the answer.

Question

Quizplus · Accepted Answer

While the product life cycle can be a useful tool, it is often difficult to determine where a product falls on the curve with precision. Additionally, companies that pay attention to diffusion of innovation may not find the product life cycle as helpful as other models.

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