Where do you think the new product is in its life cycle? Give reasons for your answer.
Answers
Answer:
Products, like people, have life cycles. A product begins with an idea, and within the confines of modern business, it isn't likely to go further until it undergoes research and development (R&D) and is found to be feasible and potentially profitable. At that point, the product is produced, marketed, and rolled out.
As mentioned above, there are four generally accepted stages in the life cycle of a product—introduction, growth, maturity, and decline.
Answer:
When a product enters the market, often unbeknownst to the consumer, it has a life cycle that carries it from being new and useful to eventually being retired out of circulation in the market. This process happens continually - taking products from their beginning introduction stages all the way through their decline and eventual retirement.
Explanation:
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