Which Statement Best Explains the Product Life Cycle

question 98

Multiple Choice

Which statement best explains the product life cycle?

• A)the process by which the use of an innovation spreads throughout a market group over time and over various categories of adopters
• B)the length of time a product exists in the marketplace before the market becomes saturated
• C)the stages that products move through as they enter, get established in, and ultimately leave the marketplace
• D)the time in which firms hire an outside firm to help generate ideas and develop new products and services
• E)the process in which a product is analyzed and improved so that it does not infringe on the competitor's patents

---

Definitions:

Community Psychologists

Experts in psychology focusing on community-based issues and interventions to promote psychological health and social cohesion.

Positive Sense

An optimistic or affirmative attitude or interpretation towards a situation or piece of information.

Treble Damages

A legal principle that allows a court to triple the amount of damages awarded to a plaintiff in order to punish the defendant for particularly harmful behavior.

Infringement

Unauthorized use or violation of someone else's rights or agreement.