Statistically, roughly over billion everyone is found below poverty line according to income standards and lack basic facilities to make their lives valuable. In this way, people get mindful of the belief that you'll find children managing restricted benefits and facilities cannot enjoy normal living standards. This is why more and more variety of charitable and sponsorship agencies are now being established. These corporations try challenging to satisfy needs of the children but the high substantiate costs urge them to try to find sponsors. This is the point where sponsorship agencies enter the scene. A product's life cycle could be represented by four phases: introduction, growth, maturity, and decline (KnowThis, 2011). The hospitality business needs to revise its offerings to constantly reflect the shifting times. The menu is constantly modified and reinvented to evolve to product availability, satisfy customer's demands and follow regulatory requirements around the world. The Hard Rock Memorabilia collection must be kept updated constantly as new music trends, which form the reason for collection, are invariably changing everyday. The collection has to be constantly maintained to keep it from undergoing a decline. The establishment also builds new hotels and casinos mainly because it expands worldwide. The new businesses undergo the merchandise life cycle though the company incorporates life cycle extension strategies so as to keep their business from your decline and on performing (Hard Rock, 2011).