GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Growth
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Introduction
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Decline
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Market segmentation
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Detailed explanation-1: -Peak is the true answer because it is not one of the product life cycle phases.
Detailed explanation-2: -The 4 stages of the product life cycle are introduction, growth, maturity, and decline. Learn how to leverage this into your business strategy. Do you want to build a successful product? If so, you need to understand the product life cycle.
Detailed explanation-3: -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.
Detailed explanation-4: -The term product life cycle refers to the length of time a product is introduced to consumers into the market until it’s removed from the shelves. The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline.