The moral of the product life cycle is that companies must continually innovate; otherwise, they risk extinction.

Question

Quizplus · Accepted Answer

The product life cycle theory suggests that all products go through four stages: introduction, growth, maturity, and decline. The theory highlights the importance of continually innovating and improving products to stay competitive and avoid declining sales. Companies that fail to innovate risk becoming irrelevant and eventually going out of business. Therefore, the moral of the product life cycle is that companies must continually innovate; otherwise, they risk extinction.

The Moral of the Product Life Cycle Is That Companies