Which statement about the evaluation of the product life cycle is NOT correct?
A) A firm can manage the product life cycle through developing an appropriate marketing mix.
B) It may be difficult to forecast a product's life-cycle shape.
C) Different firms may have similar products in different stages of the product life cycle.
D) It is virtually impossible to reverse a decline in sales once a product has reached maturity.

Question

Quizplus · Accepted Answer

The statement that it is virtually impossible to reverse a decline in sales once a product has reached maturity is not correct. Firms can often extend the life of a product through strategies such as innovation, rebranding, market expansion, or updating the product to revive interest and sales.

Which Statement About the Evaluation of the Product Life Cycle