Chapter 12.4, Problem 2PC

Summary Introduction

To determine: The reason for the placement decision for products or services into stages of the product life cycle to become a self-fulfilling prophecy.

Introduction: The product lifecycle deciphers various stages between the time it enters the market and exit from it. The life cycle of a product includes four stages that are the introduction of a product in the market, growth, maturity of the product and the declining stage.