Product life cycle 3.3.1 (part 4)

This includes:

3.3.1 Product

• the main stages of the product life cycle: introduction, growth, maturity, decline
• interpret a product life cycle diagram
• extension strategies a business could use: new markets, new uses for a product, adapting the
  product or packaging, increased advertising / sales promotion
• advantages and disadvantages of different extension strategies
• recommend and justify an extension strategy to use in a given situation

Minimum Time = 15 minutes