True or False: A product life cycle describes the typical pattern that an unsuccessful new product takes, from development to the end of its life.TrueFalse

Understanding the Statement

The statement claims that a product life cycle describes the pattern of an unsuccessful new product from development to its end.

Analysis

1. Definition of Product Life Cycle: The product life cycle (PLC) generally encompasses the stages a product goes through from introduction to decline, regardless of its success or failure. These stages are:

   • Introduction
   • Growth
   • Maturity
   • Decline

2. Application to Successful vs. Unsuccessful Products: While the PLC is often discussed with successful products in mind, it also applies to unsuccessful products. However, unsuccessful products may not follow the typical path, often experiencing quicker declines without reaching maturity.

3. Implication of the Statement: The statement incorrectly implies that the PLC is exclusively about unsuccessful products, which is misleading.

Conclusion

The statement is False. The product life cycle applies to both successful and unsuccessful products, detailing the stages from development to the end of their life cycle, but it does not specifically describe the typical pattern of an unsuccessful product alone.