GK
MARKETING MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product Life Cycle
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Product Cost Plan
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Product Price Policy
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Market Segmentation
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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.