The majority of the product cost is "locked in" during which of the following product life-cycle stages?
A)introduction
B)growth
C)development
D)decline

Question

Quizplus · Accepted Answer

The majority of the product cost is locked in during the development stage of the product life cycle. This is because this stage involves research, design, and testing of the product, which incurs significant costs, such as labor, materials, and equipment. Once the development stage is completed, it becomes difficult and expensive to make significant changes to the product design, which means the cost of production is largely fixed. In contrast, the introduction, growth, and decline stages involve relatively lower costs, as the product has already been developed and is in the market.

The Majority of the Product Cost Is "Locked In" During