In Which of the Following Ways Does the Concept of Product

question 53

Multiple Choice

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

• A)It tells managers the length of a product's life cycle.
• B)It can be used to analyze a brand, a product form, or a product category.
• C)It dictates the marketing strategy to be used for a product.
• D)It informs marketers about the duration of a product in the various stages of its life cycle.

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Definitions:

Compounded Interest

This refers to the calculation of interest on the original principal amount as well as on the interest that has accrued in earlier times, applicable to both deposits and loans.

Rate Of Return

The earning or losing of funds on an investment throughout a defined timeframe, detailed as a percentage of the original amount invested.

Profits

The financial gain made in a transaction or operation, calculated as the difference between revenue and costs.

Compounded Annually

This refers to the process where interest is added to the principal sum, so that from that moment on, the interest that has been added also earns interest, being calculated and added to the account annually.