The product life cycle compares gross profit to sales as a product/service moves through its life stages.

Question

Quizplus · Accepted Answer

The product life cycle describes the stages a product goes through from when it was first thought of until it finally is removed from the market. It does not specifically compare gross profit to sales but rather outlines the progression through development, introduction, growth, maturity, and decline stages.

The Product Life Cycle Compares Gross Profit to Sales as a Product/service