Describe the product life cycle, Marketing Management

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Question:

Your organization has recently set up an advisory unit for assisting small and medium enterprises. You have to advise a small company about its product portfolio. Prepare a report which:

a. Describe the product life cycle and critically assesses its weaknesses as a concept

b. Identifies why the BCG matrix is often used in portfolio planning, and suggests, with examples, why the BCG matrix might be criticised as a marketing management tool.

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