Question

Q6. Nandini, in order to promote local craftsmen of Gujarat, formed an
organization where in
the persons voluntarily associate themselves to promote
common economic interest. The basic purpose of this organization was to help
these craftsmen to find market for their products. It had a managing committee
that was elected on the basis of 'one member one vote'.
a) Identify the form of business organization set by Nandini ?
b) Quoting lines from the above para , state any two features of this form of
organization.
5​

Answer 1

Answer:

Every product passes through different stages in its life cycle." - Illustrate the statement with an example.

Explanation:

When a product enters the market, often unbeknownst to the consumer, it has a life cycle that carries it from being new and useful to eventually being retired out of circulation in the market. This process happens continually - taking products from their beginning introduction stages all the way through their decline and eventual retirement.

But, how does the product life cycle actually work, and how can analyzing it help companies?