Question

As a product moves through its product life cycle:

a. a firm should change its target market but not its marketing mix
b. the ocmpetitive situation moves toward monopoly
c. industry profits keep increasing along with industry sales
d. customer needsa nd attitudes may change
e. all

Answer 1

The correct answer is that customer needs and attitudes may change as a product moves through its product life cycle. Firms need to adapt their marketing mix and may need to reassess their target market to stay aligned with the evolving market dynamics.

Step-by-step explanation:

As a product moves through its product life cycle, several factors can change. The confirmation to the student's query is that customer needs and attitudes may change. This is due to various reasons such as evolving consumer preferences, technological advancements, and new competitors entering the market.

Firms need to monitor these changes and adapt their strategies accordingly. This often includes altering the marketing mix to better fit the changing market conditions and potentially reevaluating the target market if necessary. Industry profits and the competitive situation are also subject to change.