When Purchasing Consumer Electronics or Other High-Technology Products, Most Consumers

question 104

Multiple Choice

When purchasing consumer electronics or other high-technology products, most consumers are aware that within a year after making a purchase, it is likely that a new model-or an entirely new product idea-will offer more features for the same amount of money. This phenomenon is a good example of the fact that:

• A) Product life cycles are getting longer.
• B) Product life cycles are getting shorter.
• C) The product life cycle rarely changes in length.

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Definitions:

Information Technologies

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Loose Collection

Loose Collection refers to a group of items or elements that are gathered together without a strict organization or structure.

Upper-level Executives

Senior managers within a business organization, typically responsible for decision-making and strategic planning.

Main Market

The principal or leading market place where securities, commodities, or goods are traded.