Question: 3 a) You are developing a new innovative idea for the market, and are unsure whether to offer it as a product or a service.

3 a) You are developing a new innovative idea for

3 a) You are developing a new innovative idea for the market, and are unsure whether to offer it as a product or a service. Evaluate the differences between products and services, focusing on four (4) key elements Your company is intending to launch a new product, and your line manager has asked you to implement a process to manage the entire lifecycle of the new product. As such: b) Describe with the aid of diagrams the five (5) stages of the product lifecycle, listing the advantages and disadvantages of your product being. c) Describe the main challenges associated with the use of the product lifecycle model

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