Product Life Cycle (PLC) has four premises. Which of the following is NOT one of them? Products have an unlimited life. Product sales pass through distinct stages, each stage has different implications for the seller. Profits from the product vary at different stages in the life cycle. Products require different strategies at different stages of the life cycle.
Question
Product Life Cycle (PLC) has four premises. Which of the following is NOT one of them? Products have an unlimited life. Product sales pass through distinct stages, each stage has different implications for the seller. Profits from the product vary at different stages in the life cycle. Products require different strategies at different stages of the life cycle.
Solution
The statement that is NOT one of the premises of the Product Life Cycle (PLC) is "Products have an unlimited life." This is incorrect because one of the key concepts of the PLC is that, like living beings, products also have a life cycle - introduction, growth, maturity, and decline. They do not have an unlimited life.
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