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What is a product? Can you name two types of products?
A product is something made to meet customer needs. Goods (like a phone) and services (like a haircut).
What are the five stages of the Product Lifecycle?
Introduction, Growth, Maturity, Saturation, Decline.
Why does a product eventually enter the decline stage?
Because sales fall — new or better products replace it.
What could a business do to extend a product’s lifecycle?
They could update it, change packaging, or start new advertising.
What does the word 'brand' mean? Can you give me one example of a brand you know?
A brand is a name or symbol that makes a product stand out. Example: Nike.
What does USP stand for, and what does it mean in your own words?
USP = Unique Selling Point — what makes a product different or special.
Why is packaging more than just protection?
Because it also attracts customers and shows brand identity.
Can you think of a product with really memorable packaging?
Coca-Cola bottles — unique shape and colour.
Why do companies invest money in branding and packaging instead of just improving the product?
Because good branding and packaging help sell more and make people remember the product.
Can you give an example of a product in the growth stage?
Electric cars — becoming more popular each year.
what do the Product elements include:
Design, Product life cycle, Branding, Unique selling point (USP)
What is a logo, and why do companies use one?
A logo is a picture or symbol that helps people recognise the brand easily.
The new product is launched. Sales will be slow until consumers become familiar with it
Stage 1 – Introduction
