Establishing a unique selling point (USP) can help to prolong the life cycle of a product.*5 pointsTrueFalse

If a product fails to attract sufficient customers, it will fail to enter the growth phase of the product life cycle.*5 pointsTrueFalse

A key aim of the growth phase in the product life cycle is to increase profits.*5 pointsTrueFalse

8 Explain one way in which promotion can be used to extend a product’s life cycle.

How does a company typically extend the life cycle of a product?By reducing promotional activitiesBy entering new marketsBy raising the product's priceBy decreasing productionPREVIOUS

All goods or services sold to customers should*2 pointsA. be of the finest quality.B. be needed by the customers.C. have many possible uses.D. have the lowest possible price.