Using the PLC Concept for Forecasting Product Performance or for Developing

question 87

Multiple Choice

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

• A)accurate estimates of sales at each PLC stage
• B)length of time spent in each PLC stage
• C)the shape of the PLC curve
• D)the PLC being used for fads or fashions
• E)A and B only

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Definitions:

Cost Diseconomies

Situations where costs per unit increase as a firm's operation scales up, often due to inefficiencies or increased complexity.

Celebrity Endorsement

The practice of using a famous person's support or approval to promote a product or service, leveraging their influence to reach potential customers.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various price levels.

Equilibrium Price

The market price at which the quantity demanded of a product equals the quantity supplied, leading to a stable market condition.