9 Questions
What is the goal of product life cycle management (PLM)?
To reduce time to market
What does product life cycle (PLC) concern?
The life of a product in the market with respect to business/commercial costs and sales measures
What are the major stages of product life cycle (PLC)?
Introduction, growth, maturity, decline
What is the assumption made by PLC management?
The product needs to be sold before it finishes its life
What is the purpose of extending the product life cycle?
To improve sales
What does product life cycle management (PLM) integrate?
People, data, processes and business systems
What is the benefit of user-generated contents (UGC) in identifying product life cycle stage?
It can reveal the buyer personality characteristics
What is the difficulty in identifying product stages when the product is in transition?
It is difficult to identify product stages when the product is in transition
What are the characteristics of PLC stages?
They involve many professional disciplines and require many skills, tools and processes
Study Notes
Test your knowledge on the succession of strategies used by business management as a product goes through its life-cycle with this quiz on Product Life-Cycle Management (PLM). From introduction to decline, learn about the different stages of a product's life-cycle and the corresponding strategies implemented by businesses. This quiz will help you understand the importance of managing a product's life-cycle and the impact it has on a company's success. Keywords: product life-cycle, business management, strategies, stages, introduction, decline.
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