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it is a topic related to MBA.
The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves. The life cycle of a product is broken into four stages—introduction, growth, maturity, and decline. This concept is used by management and by marketing professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging. The process of strategizing ways to continuously support and maintain a product is called product life cycle management
Question : Which function of marketing is highlighted in the given statement? Statement: It is an important feature of the product as labels provide detailed information about the product its contents method of use,etc
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Branding
Question : It contributes to making the product attractive to the target customers. Which function of marketing is highlighted in the given statement?
Option 1: Marketing planning
Option 2: Customer support services
Option 3: Storage
Option 4: Product designing and development
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