Invention vs. innovation: Invention is creating something new; innovation is improving or commercialising it. Product design: Focus on function, cost, and aesthetics. Product life cycle: Four ...

It is withdrawn when it becomes unprofitable. Phases of the product life cycle Introduction Explanation The product is launched, so sales may be low because only a small number of customers are ...

How to convert a tantalizing concept into a managerial instrument of competitive power by Theodore Levitt Most alert and thoughtful senior marketing ... of the product life cycle.