
Long questions with answers for this topic
Product life cycle is the concept that a product passes through stages—introduction, growth, maturity and decline—based on sales and profit pattern.
A product line is a group of related products offered by a company.
A brand is a name, symbol or design that identifies a seller’s product and differentiates it from competitors.
Packaging protects the product from damage and spoilage.
Labelling is providing information on the product/package for identification, description and legal compliance.
Augmented product includes additional services like warranty, delivery and after-sales support along with the actual product.
Levels of product are:
This helps firms compete beyond features by adding service and experience.
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