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Transcription of this question: 3.JVSJVS is a successful manufacturer of designer clothing. A marketing expert described JVSsbrand name, Izzys, as one of the business’s major strengths. Because of its market orientationapproach, JVS spends significantly more on market research than its competitors.JVS’s products are:• Izzys, a range of high-quality fashion jeans, which contributes 70% towards JVS’s revenue andprofit. The market for this range is not growing.• IzzDen, a range of denim jackets, which is near the end of the product life cycle. Manufacturingof this product will cease later this year.Izzys and IzzDen are sold through high-end independent retailers throughout countries in Europe.JVS uses a price leadership strategy for these two products. Consumers perceive JVS asfashionable. They also believe that JVSs products are worth the premium price.JVS is considering launching a new product, a range of fashionable shorts — Izzless — aimed at the15—19 age group. With this product, JVS would reach a different, but highly competitive, market.Focus groups revealed that many low-income young consumers want to purchase fashion shorts.JVS would sell the new shorts to mass market discount retail stores. Consumers would also beable to order online for next-day delivery.(a)(b)(c)(d)State two stages of the product life cycle.Apply the Boston Consulting Group (BCG) matrix to JVSs current product portfolio.Explain one advantage and one disadvantage for JVS of using focus groups for itsmarket research.Recommend whether JVS should launch the new product, Izzless.[2][10]

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