Respuesta :
Heavy advertising is employed to foster brand loyalty while a product is in the growth stage of its product life cycle.
Explain the Importance of the Product Life Cycle
The life cycle of a product is crucial since it informs management on the performance of the product and potential strategic directions. A firm can alter how it spends resources, which goods to promote, how to devote staff time, and what innovations they want to investigate next by knowing what stage its product(s) are in. The development, introduction, growth, maturity, and decline of a product are the five phases that make up its life cycle. German economist Theodore Levitt created the idea and released his Product Life Cycle model in the Harvard Business Review in 1965.
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