Which of the following best defines a product life cycle?
A)It refers to the shelf life of a product.
B)It refers to the journey of a product from production to sale.
C)It refers to the process of recycling damaged products into new products.
D)It refers to the dynamic pattern of sales and profits of a product.

Question

Quizplus · Accepted Answer

A product life cycle is the pattern that a product goes through from its introduction to market until its decline or discontinuation. This pattern includes different stages, such as introduction, growth, maturity, and decline, where sales and profits can vary significantly. Therefore, option D, which states that a product life cycle refers to the dynamic pattern of sales and profits of a product, is the best choice. The other options are not accurate definitions of a product life cycle.

Which of the Following Best Defines a Product Life Cycle