2. The Product Life Cycle The product life cycle and diffusionof innovation mode

2. The Product Life Cycle The product life cycle and diffusionof innovation models are two common ways to diagnose goods andservices. Briefly describe the product life cycle and diffusion ofinnovation. Describe the shape of the product life cycle that youmight expect if you were a movie producer. How might a movie studioextend the life of a movie using different distribution channels?Using the diffusion of innovation model compare a customer on thefirst day a new movie is released to a customer who first views thesame movie when it is released 18 months later to a commercial TVnetwork such as NBC. Your initial post should be a minimum of 300words.