Why is the length of the product life cycle important for strategy formulation?
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The length of the product life cycle is important for strategy formulation due to the fact that one must know which stage the product life cycle is already in, in order to properly indicate a strategic response andthe level of resources that might need to be used for a particular product of services.What adaptive strategic alternatives are indicated for a particular or each stage of the product life cycle? Product life cycle analysis is helpful in selecting the strategic alternatives based on the simple principal that all products and services go through several distinct stages.
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