The Product Life Cycle and Competitive Advantage Life Cycle Differ

question 1

True/False

The product life cycle and competitive advantage life cycle differ in that the product life cycle reflects trends for a specific product or service,whereas the competitive advantage life cycle is based on multiple products or services.

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Definitions:

Reduced Competition

A market condition in which there are fewer competitors, often leading to increased market share for existing companies.

Brand Loyalty

The tendency of consumers to continuously purchase the same brand's products over time, due to positive experiences, satisfaction, or emotional attachment.

Live Streaming

Broadcasting real-time, live video footage to an audience over the internet, often used for events, gaming, social media, and educational purposes.

Branded Content Approach

A marketing strategy where content is produced by a brand to promote its values and identity, rather than directly advertising products.