The importance of the product life cycle to marketers is this: Different stages in the product life cycle

call for different strategies. The goal is to extend product life so that sales and profits do not decline. One

strategy is called market modification. It means that marketing managers look for new users and market

sections. Did you know, for example, that the backpacks that so many students carry today were originally designed for the military? 

market  modification  military  extend  product