As a product moves through its product life cycle:
A) a firm should change its target market--but not its marketing mix.
B) the competitive situation moves toward monopoly.
C) industry profits keep increasing along with industry sales.
D) customers' needs and attitudes may change.
E) All of the above are true.

Question

Quizplus · Accepted Answer

As a product moves through its product life cycle, customers' needs and attitudes may change. This means that the marketing mix may need to be adjusted to continue meeting customer needs. Additionally, competition typically increases throughout the product life cycle, leading to a more competitive market rather than a move toward monopoly. Industry profits may also fluctuate throughout the product life cycle, rather than simply increasing along with industry sales.

As a Product Moves Through Its Product Life Cycle