The Product Life Cycle Refers to __________

question 212

Multiple Choice

The product life cycle refers to __________.

• A)the average life span of a product
• B)a concept that describes the stages a new product goes through from product concept to commercialization
• C)a concept that describes the stages a product goes through in the marketplace-early growth,accelerated development,maturity,and decline
• D)a concept that describes the stages a product goes through in the marketplace-introduction,growth,maturity,and decline
• E)the amount of time it takes a product innovation to completely diffuse in the marketplace

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Definitions:

Mixed Numbers

A number consisting of an integer and a fraction, such as 3 1/2, used to represent quantities that exceed whole numbers.

Lowest Terms

Refers to a fraction that is simplified to its smallest possible numerator and denominator without changing its value.

Fractions

A numerical quantity that is not a whole number, representing a part of a whole.

Mixed Numbers

Numbers made up of a whole number and a fraction, indicating a quantity that falls between two consecutive integers.