Critically discuss this statement. Use examples to justify your answer.

ENSTOLULIVU ETU- [30] QUESTION TWO 2.1 "In this present and dynamic marketing environment, the product life cycle concept is a myth and a self-fulfilling prophecy. The efficacy, applicability and validity of the product life cycle model is questionable. Critically discuss this statement Use examples to justify your answer. (20) 2.2 Marketers know that they've got to keep a steady stream of new products and/or services flowing. As circumstances, needs, wants, and trends change, no one wants to get left behind. At the same time though, marketers also know that innovation these days is pretty risky business. R. G. Cooper estimates the product failure rate at 48%. Using an example of a failed product, evaluate why new products fail on the market