Define and discuss the product life cycle and apply this to your redefined or new product or service. Estimate how much time your product will stay in each phase of the lifecycle and define why you are making this assessment?
Draw a representative graph of your product/service lifecycle.
Note: Because of the importance of the visual of the graph,
Weeks Resource:
Online business
The Marketer’s Handbook to Product Life Cycle
Video:
The Product Life Cycle Model - Simplest Explanation ever
https://www.youtube.com/watch?v=Nq7Zj18DJU8&t=25s