Question 2 [25 marks]

Read the following and then answer the question below

i.The product life cycle consists of four distinct phases. Because consumer behavior patterns and competition in the marketplace will inevitably change with time, the marketing strategy will often have to be adjusted during the product life cycle.

With the aid of a diagram, illustrate and describe the four (4) stages of the product life cycle and discuss which marketing strategies can be adopted at each stage. (20 marks)

ii. Briefly explain how does product package fit into the marketing of a product? What are the functions of a product package? (5 marks)