The __________ is a theoretical model of what happens to sales and profits for a product class over time.
A) Diffusion of innovation
B) Product life cycle
C) Growth of products
D) Time value of innovation

Question

Quizplus · Accepted Answer

The product life cycle is a theoretical model that explains what happens to sales and profits for a product class over time. The model includes four stages: introduction, growth, maturity, and decline. This concept is widely used in marketing and helps companies understand when to introduce new products, when to invest in advertising and promotion, and when to retire old products.

The __________ Is a Theoretical Model of What Happens to Sales