Which of the following is a feature of the product life cycle (PLC)?
a. It allows firms to shorten the development process of a product and reduce costs.
b. It helps marketers forecast future events and suggest appropriate strategy.
c. It dictates the marketing strategy to be used for a product.
d. It tells managers the length of a product's life cycle or its duration in any stage.
ANSWER: b
The product life cycle (PLC) concept is simply a tool to help marketers forecast future events and suggest appropriate strategies. It does not tell managers the length of a product's life cycle or its duration in any stage. It does not dictate marketing strategy.
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