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The problem with using the product life cycle concept is that no one can predict the shape that the product's life cycle will take; therefore, it is impossible to know Blank______

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The problem with using the product life cycle concept is that no one can predict the shape that the product's life cycle will take; therefore, it is impossible to know which stage the product is in.

Product Life Cycle

  • The time span between a product's first release to consumers and its eventual withdrawal from the market is known as its life cycle.
  • Four stages—introduction, growth, maturity, and decline—are typically used to describe a product's life cycle.
  • Demand rises after a product is released effectively to the market, which boosts its appeal. In the end, these more recent products replace older ones by driving them off the market.
  • As sales of a new product rise, companies typically reduce their marketing efforts. This is a result of a decrease in the product's the production and marketing costs.
  • The product might be completely removed from the market when demand for it declines.

To learn more about the Product Life Cycle refer to:

https://brainly.com/question/17485582

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