What is the economic term for the rate at which products move through the product life cycle?

The correct answer, Product Velocity, refers to the speed at which a product progresses through the various stages of the product life cycle, which typically include introduction, growth, maturity, and decline. Understanding product velocity is crucial for businesses as it allows them to strategize effectively around marketing, inventory management, and resource allocation. A high product velocity indicates that a product is moving quickly through the life cycle, suggesting strong consumer interest and market demand.

While market share pertains to the portion of the market controlled by a specific product or brand, it does not directly address the movement through the life cycle stages. Customer adoption rate reflects how quickly customers start using a new product, but it specifically focuses on the initial uptake rather than the overall movement through the life cycle. Market dynamics encompasses various market forces and factors that influence the economy but does not specifically define the rate of products moving through their life cycle stages. These distinctions emphasize why Product Velocity is the most accurate term in the context of the product life cycle.