Many products have a predictable profit or product life cycle. Describe the product life cycle from the marketing perspective. In addition, graph profit versus the different phases. Finally, discuss the impact of the product life cycle on products, learning effects, setups, purchasing, and marketing expenses.
The product life cycle describes the profit history of the product according to four stages; introduction, growth, maturity, and decline. The graph would look like the following:
The impact of the product life cycle on cost management would be as follows:

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The Answer of Many products have a predictable profit or product life cycle. Describe the product life cycle from the marketing perspective. In addition, graph profit versus the different phases. Finally, discuss the impact of the product life cycle on products, learning effects, setups, purchasing, and marketing expenses.
The product life cycle describes the profit history of the product according to four stages; introduction, growth, maturity, and decline. The graph would look like the following:
The impact of the product life cycle on cost management would be as follows:

Many Products Have a Predictable Profit or Product Life Cycle