The product life cycle explains the sales and profits of a product or service over its lifetime. In the NewShoes Simulation, you have the option of keeping the basic version of the athletics shoes (version 0) or engaging in the development of a new product addressing product breakthroughs (up to version 6). How will you determine when it will be best to proceed with product development while considering the implications on the product life cycle of your athletic shoe brand? Please be sure to validate your opinions and ideas with citations and references in APA format.
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