"Product life cycles" are concerned with sales and profits:
A) in generic markets-not individual product-markets.
B) of a firm's individual products or brands.
C) of goods but not services.
D) in a product-market.
E) None of these alternatives is a good answer.

Question

Quizplus · Accepted Answer

Product life cycles describe the stages a product goes through from introduction to growth, maturity, and decline in terms of sales and profits within a specific product-market, not just generic markets or individual brands, and they apply to both goods and services.

"Product Life Cycles" Are Concerned with Sales and Profits