What is the product life cycle, and how does it differ from product diffusion?

What is the product life cycle, and how does it differ from product diffusion?

Category:
December 19, 2020
5 Views
0
0

What is the product life cycle, and how does it differ from product diffusion?

 

Answer and ExplanationSolution by a verified expert

Explanation

The differences between product life cycle and product diffusion are-

Product life cycle deals with the sales of the product over time. While diffusion states the acceptance of the product into the market.
Product life cycle curve eventually stops if the consumer thinks not to buy the product. The product diffusion curves are continuous unless the acceptance of the product is done in the whole market.
Product life cycle curve depends on the stages the products go through. While diffusion curves will only depend on the adoption of the target consumers.

Verified Answer

The product life cycle is the process of flow of product from the introductory stage followed by growth, maturity and decline stage. While product diffusion refers to the percentage of the population who accept innovation at a given period of time.

Purchase this answer to view it.
Click the button to login/signup and buy full solution at 2 USD only.

The Best Research Paper Writing Service

Would you want to pay someone to write your paper professionally from scratch? 100% Original and 0% AI Content!.

🎓 Write my Essay
📚 Write my Persuasive Essay
📋 Humanize AI Content for Turnitin
💻 Write my Reflective Essay
📑 Write my Research Paper
📜 Write my Thesis Paper
📘 Write my Dissertation
📋 Write my Case Study
📝 Write my Online Exam
✒️ Write my Term Paper
Write my Paper