Which Is a Limitation of the PLC Concept

question 65

Multiple Choice

Which is a limitation of the PLC concept?

• A) It does not tell managers the length of a product's life cycle or its duration in any stage.
• B) It can only dictate marketing strategy with forecasts of events depending on life cycle length.
• C) It only tells managers the length of a product's life cycle based on past and currently running cycles.
• D) It cannot help marketers forecast future events and suggest appropriate strategies.

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Definitions:

Normal Quantile Plot

A graphical method for assessing whether a set of data follows a normal distribution by plotting observed data against theoretically expected normal values.

T Procedure

A statistical method used to estimate the mean of a population, particularly when the sample size is small and the population standard deviation is unknown.

Stemplot

A graphical representation of data where each value is split into a "stem" (the leading digits) and a "leaf" (the last digit).

Boxplot

A graphical depiction of data through their quartiles, highlighting the median, range, and outliers, and facilitating comparisons between distributions.