Final answer:
Creating a new use situation in managing a product's life cycle generally entails finding new ways to use an existing product. This strategy can help a product remain relevant and expand its market, benefiting from customer feedback and technological advancements to innovate and stay competitive.
Step-by-step explanation:
Creating a new use situation in managing a product's life cycle typically means c. Finding alternative uses for a product. This involves envisioning the future by designing and creating ways in which an existing product can fulfill additional needs or purposes that may not have been initially anticipated. This strategic approach allows companies to extend the relevance and marketability of their products.
For example, the humble baking soda was initially used for baking, but over time, it was discovered to be effective as a deodorizer and cleaning agent, creating new use situations. In order to foster innovation, one might design and draw a picture of a new product or modify an existing product's design to meet a different need, and then gather feedback. This feedback is invaluable as it guides the subsequent redesign of the product to better meet market demands.
Moreover, the advancement of technology plays a critical role. In the past, products like agricultural goods were consumed once sold, but modern technologies can have multiple iterations and applications. For companies, developing groundbreaking technologies can provide a competitive advantage that extends into the future, positioning the company favorably in the market.