Which statement concerning the product life cycle is NOT correct?
A) The product life cycle concept encourages firms to have a balanced product portfolio.
B) The product life cycle concept encourages firms to have products with different competitive product positionings.
C) A firm needs to change its marketing mix to reflect a product's life cycle position.
D) The product life cycle can be applied to a product class, a product form, and a brand.

Question

Quizplus · Accepted Answer

The product life cycle concept primarily focuses on the stages a product goes through from introduction to decline, and how firms can adapt their strategies (including marketing mix adjustments) to these stages. It does not specifically encourage firms to have products with different competitive positionings, which is more related to overall marketing and product strategy than to the life cycle concept itself.

Which Statement Concerning the Product Life Cycle Is NOT Correct