GENERAL KNOWLEDGE

GK

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The life cycle concept places particular emphasis on risks. For management in any firm, of failing to cultivate invention and innovation” this statement refers to
A
Product Life Cycle
B
Product Cost Plan
C
Product Price Policy
D
Market Segmentation
Explanation: 

Detailed explanation-1: -What is a product life cycle? A product life cycle is a management tool that evaluates a product’s journey from development to withdrawal from the market. As mentioned earlier, it includes four stages-introduction, growth, maturity, and decline.

Detailed explanation-2: -losses related to research and development costs. Q In the literature of product life cycle management, the term market risk refers to. losses related to declining market share for companies that are not technological leaders.

Detailed explanation-3: -The 4 stages of the product life cycle are introduction, growth, maturity, and decline.

Detailed explanation-4: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline. The concept was developed by German economist Theodore Levitt, who published his Product Life Cycle model in the Harvard Business Review in 1965.

There is 1 question to complete.