The most challenging part of applying the product life cycle concept is that managers do not know exactly how long each stage of the cycle will last.

Question

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The product life cycle concept is based on the assumption that products have a limited lifespan and go through four stages: introduction, growth, maturity, and decline. The challenge for managers is that it is difficult to predict how long each stage will last, and therefore, it is challenging to make accurate marketing decisions.

The Most Challenging Part of Applying the Product Life Cycle