When a Service Declines in Its Life Cycle

question 47

Multiple Choice

When a service declines in its life cycle:

• A) it is always a function of strategy
• B) it can be the result of factors beyond the control of the manager
• C) price changes can usually correct the decline
• D) looking for a market niche can help stem the decline

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Definitions:

Technology Level

The current state of technological advancement and availability in a society or sector.

Resources Available

The total assets, both tangible and intangible, that are at disposal for use in the production of goods and services.

Production Possibility Frontier

A graph that shows all the maximum production possibilities of two or more products based on certain inputs.

Bowed Out

A phrase indicating withdrawal or retreat from a competition, situation, or commitment.