As a Product Moves Through Its Product Life Cycle

question 212

Multiple Choice

As a product moves through its product life cycle:

• A) a firm should change its target market-but not its marketing mix.
• B) the competitive situation moves toward monopoly.
• C) industry profits keep increasing along with industry sales.
• D) customers' needs and attitudes may change.
• E) All of these alternatives are true.

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Definitions:

Advance Directive

A written document such as a living will or durable power of attorney that directs others how future health care decisions should be made in the event that the individual becomes incapacitated.

Holographic Wills

Wills that are handwritten, dated, and signed by the person making the will, without the necessity of witnesses, recognized in some jurisdictions.

Nuncupative Wills

Oral wills that are made by the testator in anticipation of imminent death, witnessed by others, and subject to legal restrictions.

Probate Referee

An appointed individual who evaluates the assets of a deceased person's estate for probate court proceedings.