Answer the following statement(s) true (T) or false (F)
1. All products go through the product life cycle.
2. Although sales peak during the maturity stage in the product life cycle, profits decline.
3. The product life cycle for any product is fixed and cannot be extended.
4. Redesigning a product to provide additional features or benefits is a type of functional modification designed to extend the product life cycle.
5. The run out strategy gradually eliminates the product without any change in the marketing strategy.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
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