3.) What is brand extension? encountered. Also, provide an example of a brand extension you have 4.) During the stage of the product life cycle, sales rise, profits rise rapidly, and there are a few but increasing number of competitors. 5.) _involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor's patents. 6.) When developing new products, the first step of the process is to generate ideas. Name six sources of product ideas. 7.) What are the five groups depicted in the diffusion of innovation curve? 8.) When a furniture maker makes a rocking chair, the cost of the materials he uses for each chair is a