Title: Explain product life cycle.
Course: Sports, Entertainment, and Event Marketing > Section: Describing Product Development

Explanation should include the stages a product goes through, all of which affect the product's pricing, during its existence, such as

- introduction
- growth
- maturity
- decline.

Process/Skill Questions:

- How do marketing strategies differ in each stage of the product life cycle?
- What happens to price and profits of sports, entertainment, and event products during each stage of the product life cycle?
- What is a fad? What is an example of a fad?
- How could one describe the movement of a fad through the product life cycle?
- What is product modification, and how can this take place in the product life cycle?