The Product Life Cycle Is a Predictable Pattern Followed by a Technological

question 10

True/False

The product life cycle is a predictable pattern followed by a technological innovation,from its inception and development to market saturation and replacement.

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Definitions:

Niches

Specific, targeted segments of a market where businesses can focus their products or services to meet specific consumer needs.

Consumer Income

The total earnings of a consumer, influencing their purchasing power and consumption habits.

High-Quality Products

Goods that exceed the standard expectations in performance, durability, and reliability.

Eating Out

Refers to the activity of dining in restaurants or other food establishments rather than at home.