C. From the product mentioned in part A above: Briefly explain the stages of the product life cycle and identify the stage of the product life cycle that the product is operating at. Briefly discuss THREE Marketing strategies that could be used to boost sales at the stage at which the product is operating.

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Product and Service Innovation

Product innovation is the introduction of either a new product or an existing product with significant improvements related to its characteristics. Improvements could be in various specifications and areas such as technical, technological, physical use, software updates, overall size and texture, and so on. For instance, consider the Apple Watch; they release different series every year with significant updates and improvements such as using cellular technology, monitoring your heart rate, acting as your fitness partner, measuring blood oxygen level, and so on. We see the addition of features in every series, and these improvements make them a different product altogether.