The document defines a product as anything that can be offered to a market to satisfy a want or need. It explains that there are three levels of a product: the core benefit, the generic product, and the expected product. Product classifications are based on consumer and organizational consumers. Product line decisions refer to determining the breadth and depth of a product mix. The document draws a diagram of the product life cycle consisting of introduction, growth, maturity, and decline stages, explaining each stage involves changes in sales and profits. During the declining stage, the marketing mix like price or promotion may be modified to extend the life cycle.

1. PRODUCT
Please answer accordingly:
1. DEFINE WHAT IS PRODUCT?
2. THERE ARE 3 LAVELS OF A PRODUCT? BRIEFLY EXPLAIN.
3. PRODUCT CLASSIFICATONS ARE BASED ON 2 TYPES OF CONSUMERS. Briefly explain.
4. DEFINE WHAT IS PRODUCT LINE DECISIONS?
5. DRAW A DIAGRAM OF A PRODUCT LIFE CYCLE AND BRIEFLY EXPLAIN EACH STEP.
6. IN THE DECLINING STAGE OF THE PRODUCT LIFE CYCLE, MARKETING MIX MAY BE MODIFIED.
BRIEFLY EXPLAIN.