The importance of the product life cycle is that quizlet
Asked by admin @ in Business viewed by 331 People
The importance of the product life cycle is that:______.
Answered by admin @
Answer: B. different stages in the life cycle call for different marketing strategies.
Explanation:
A product goes through different stages in its development when it is first introduced into the market. These stages include the introductory stage, the growth stage, the maturity stage and the decline stage.
Each of these stages will mean a different level of sales for the product which means that the company will have to capitalize on the opportunities offered by each stage in order to market the product in such a way that it will sell. For them to do so though they will need to know what stage the product is at and that is why the Product Life Cycle is important.
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