Explain to what extent is the concept of the product life cycle a useful tool for marketing managers?

To what extent is the concept of the product life cycle a useful tool for marketing managers?

I would like to ask you to discuss the above question following the below points:

1. Do you agree on the above statement and to what extent?

2. Is product life cycle a useful tool? and to what extent it can be used?

3. Please provide one relevant example on the above mentioned.

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