The document outlines the stages of the product life cycle: introduction, growth, maturity, and decline, highlighting that products can become obsolete over time. It discusses strategies for adapting products, such as variations (like Diet Coke), changing sales channels (e-commerce), advertising campaigns, and pricing adjustments. These modifications can help maintain sales and relevance as products age.

1. Product Life Cycle This is the stages a product goes through during its life. Products do not always last for ever eg platform shoes are not fashionable now and are not sold www.mrmcgowan.blogspot.com

7. Stages of the Product Life Cycle Introduction – when the product first comes onto the market Growth – when the sales are going up Maturity – when you have reached all the people who will buy your product Decline – when your product starts to lose customers – falls out of fashion

8. The Product Life Cycle Time

9. Increasing the product life Change the product slightly – Coca Cola brought out diet coke, caffeine free etc Change where you sell your product e.g. set up a website and sell on the internet Advertising campaigns – reminds people about your product Change your price – maybe have a special offer on one of your products