Knowing what stage of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.
<h3>What is the product life cycle?</h3>
The stages that a product goes through as it enters, establishes itself and leaves the market are defined by the Product Life Cycle (PLC). The product life cycle, in other words, outlines the stages that a product is likely to go through. Managers can use it to examine their products and create plans as they move through different stages.
When a product is first introduced to the market, a company frequently faces higher marketing expenses; nevertheless, as product adoption rises, more sales are realized.
When a product's adoption matures, sales stabilize and peak, however they may decline due to competition and obsolescence. When making business decisions, from pricing and advertising to expansion or cost-cutting, the idea of product life cycle might be helpful.
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B. Participative management and empowerment
The competitive capability which relates to flexibility is the reason that Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers.
<h3>What is the
competitive capability?</h3>
Competitive capability relates to the unique ability possess by a company over other competitors.
In this case, the Gymtastic possess the competitive capability called Flexibility.
In conclusion, the competitive capability which relates to flexibility is the reason that Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers.
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Answer:
The answer is Place
Explanation:
In the marketing mix, the process of moving products from the producer to the intended user is called place. In other words, it is how your product is bought and where it is bought. This movement could be through a combination of intermediaries such as distributors, wholesalers and retailers.
Answer:
C) the merchandise inventory balance reflects the ending inventory.
Explanation:
When a company uses the periodic inventory system, inventory records are updated only at the end of each accounting period. The periodic inventory system records cost of goods sold (COGS) at the end of the accounting period after the inventory records have been updated.
