- 4 Marks
Question
Identify and explain an example of a product or service whose life cycle has not conformed to the traditional pattern of introduction, growth, maturity, and decline.
Answer
An example of a product whose life cycle has not conformed to the traditional pattern is Radio.
Radio was once expected to be in permanent decline after the arrival of television. However, radio experienced periods of regeneration due to factors such as radios in cars, the rise of local radio stations, and the introduction of digital radio technology. Thus, radio has remained relevant, evolving and adapting over time, rather than following a simple decline phase.
- Tags: Business Strategy, Market Phases, Product Development, Product Life Cycle
- Level: Level 1
- Topic: Business Strategy, Product Life Cycle
- Series: Nov 2024
- Uploader: Salamat Hamid