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Product strategies change at each point of a product life cycle. Describe how each strategy differs between introduction, growth, maturity, and decline.
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- Give one example of a particular product for growth stage (from Product Life Cycle) and make an explanation why such product is classified in that particular stage.Name the categories into which new products are grouped?Give an example of the Product Life Cycle of a product (explain in detail each stage from Introduction, Growth, Maturity and Decline)!
- Why is product specialization important? Who is responsible for setting the level of productspecialization?. How does an organization’s product mix relate to itsdevelopment of a product line? When should an enterprise add depth to its product line rather than width toits product mix?How Would You Describe Each Stage of the Product Lifecycle?