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which of the following statements are correct?
1. the life cycle curve will be same for all products
2. the product life cycle concept is not relevant to pricing policy
Is life cycle curve the same for all products, because some products don’t reach a decline stage and also life cycle costing is relevant to costing only or is it also relevant to pricing policy? please let me know
Again, why are you attempting questions for which you do not have an answer?
The first statement is not true – different products will have different life cycle curves.
The second statement is true, but is really a rather poor question. The idea of there being a life cycle should be taken into account when determining prices, but does not have to be – the business can adopt various different pricing policies regardless of the life cycle (as explained in my free lectures on pricing.