All of the Following Are True About the Length of Product

question 268

Multiple Choice

All of the following are true about the length of product life cycles except which?

• A)The length of service life cycles is typically longer than those for tangible products.
• B)There is no set time that a product takes to move through its life cycle.
• C)Technological change shortens product life cycles as new products replace existing ones.
• D)The use of mass media tends to shorten product life cycles.
• E)Consumer products have shorter life cycles than business products.

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Definitions:

Marginal Costs

The additional cost incurred from the production of one more unit of a product or service.

Potential Customers

Potential customers are individuals or entities that have not yet purchased but have shown interest or fit the profile of a company's target market.

Expected Profit

The projected financial gain a company anticipates earning from its operations or investments, based on various assumptions and calculations.

Price

The amount of money required to purchase a good or service.