Question

A theoretical model describing a​ product's sales and profits over the course of its existence is known as the product​ ________.

Answer 1

It is known as the product LIFE CYCLE. It is made up of four basic stages, which are: introduction, growth, maturity and declining stage. The life cycle of a product can help a company in decision making concerning that product; it can help the company to improve its efficiency, saves money and better use its resources.