5Woods last unit: What changes have been made to extend the life of Lucozade as a product? Changed the packaging Changed target market Changed purpose of the product Changed ingredients/flavours Changed marketing techniques Changed target area Changed vending methods Product Life Cycle: Describes the stages of a product’s life. Stages: Introduction: Growth: Maturity: Decline: Withdrawal: The main stages of product life cycle are: Introduction – researching, developing and then launching the product Growth – when sales are increasing at their fastest rate Maturity – sales are near their highest, but the rate of growth is slowing down, e.g. new competitors in market or saturation Decline – final stage of the cycle, when sales begin to fall (https://www.tutor2u.net/business/reference/marketing-product-life-cycle)