____ is a useful framework for managers to use as they plot business strategy over time.

Question

Quizplus · Accepted Answer

The product life cycle is a framework that provides managers with a useful tool for plotting business strategy over time. It describes the stages a product goes through from introduction, growth, maturity to decline, and each stage comes with unique challenges and opportunities that require distinct strategies. By understanding where your product falls in the life cycle, you can make informed decisions about pricing, marketing, distribution, and product improvements to stay competitive and achieve long-term success.

____ Is a Useful Framework for Managers to Use as They