Business Studies

Business Studies revision

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Product life cycle

Looks at the stages in a life of the product.

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what a product is

A product is someting what a Business could sell.

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product life cycle graph

(http://www.nku.edu/~issues/internet_marketing/lifecycle.gif)

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Graph explained

Intruduction

Getting a product known beyond the launch stage usually requires costly promotion activity.

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extension strategy

Updating packaging, adding extra features or lowering price.

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