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The product life cycle is a pattern of what over time?
APrices and discounts for a product or product category
BCosts and margins for a product or product category
CSales and profits for a product or product category
DStaff and budgets for a product or product category
Answer & Solution
Correct answer: C. Sales and profits for a product or product category
1. The product life cycle is a pattern of sales and profits over time.
2. It can describe a single product or a whole product category.
3. As the product moves through the stages, the firm must keep revising its marketing mix.
4. Prices, costs and budgets change along the way but they are not what the cycle plots.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.8 The Product Life Cycle_
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