PRODUCT LIFE CYCLE
A product life cycle contains 4 steps which include:
1. Research and development this is where it is introduced.
.2. Growth is the product grows.
3. Maturity is where the product reaches its full potential.
EXTENSION STRATEGY: Three things BMW could do to extend the life of their products could be the following:
bring out new models
add new accessories
cut prices of the car
4. Decline is where the product has no use anymore.