Product modification is the process of enhancing an existing product so as to attract more customers and to extend the product's life cycle.*5 pointsTrueFalse

Product modification is the process of enhancing an existing product so as to attract more customers and to extend the product's life cycle.*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

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

An extension strategy is usually used during the growth phase in order to prolong the longevity of the product's life cycle.*5 pointsTrueFalse

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