Question 1: Explain why marketing managers must understand the relationship you illustrated as well as how they should incorporate it into the marketing plan.
Question 2: What do you think might happen if no forethought is given to the PLC? Please support your thoughts with a work experience, consumer observation, or a hypothetical scenario.
Question 3: How can you use your new found understanding of this cycle and its effects on products and price to make wiser consumer or business purchase decisions?