The CEO of David's Firm Just Came Back from a Business

question 137

Multiple Choice

The CEO of David's firm just came back from a business seminar. He called David into his office and stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that

• A)the product life cycle is not a useful concept.
• B)it is often impossible to identify with precision where a product is in the product life cycle.
• C)the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation.
• D)the idea has been discredited by recent research.
• E)the product life cycle works only for certain types of firms.

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Definitions:

Likert Scale

A technique for measuring attitudes that asks a respondent to indicate the extent to which he or she agrees with each of a series of statements about an object.

Reliability

The degree to which a measuring instrument produces the same results each time it is employed under a set of specified conditions.

Different Participants

Refers to the diverse members or individuals who take part in a study, survey, or any given activity or process.

Diary Research

A qualitative research method that involves participants keeping a record of their activities, thoughts, or feelings over a period of time for later analysis by researchers.