Question

The product life cycle refers to __________. ?a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Answer 1

The product life cycle is a concept that would describe the stages that a product undergoes in the market. These stages are introduction, growth, maturity and decline. Every product that is new always follow this cycle. However, every product cycle is a factor of the situation of the market so it varies accordingly.