Question

I need help understanding what are the weaknesses and strengths of product life cycle. My text book does not provider clear understanding.

Answer 1

Strengths of the product life cycle are that it provides for the assessment of the stage of the products and accordingly strategies can be made out for enhancing the growth of the business or modify any plan or strategies.

The weakness is that it is based on the sales data as to how much selling has occurred thus these data may be lately recorded as after sales the data are collected so making decisions on it may go wrong. Since sales are different in different countries of same product a uniform strategy for the organization cannot be made based on stage of cycle. The other weakness is that other factors like seasonal sale, disruption in supply chain etc. can affect sales record thus correct assessment of product life cycle cannot be made