All of the Following Are True About the Length of Product

question 32

Multiple Choice

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

• A)the length of service life cycles is typically longer than those for 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:

Transportation Costs

Expenses associated with the movement of goods or materials from one location to another, including shipping, freight, and logistics costs.

Annual Inventory Cost

The total expenses associated with maintaining and managing inventory over the course of a year.

Reorder Interval

The time period between successive orders of the same product or component, important for inventory management.

Customer Service Level

A metric used to evaluate how well a company meets the needs and expectations of its customers.