The product of life cycle Essay

Select a product which you are familiar.

What stage is definitely your picked product for in the support life cycle? Give rationale for your answer. Depending on your knowledge of the product life pattern, what types of improvements will happen to your chosen product mainly because it continues throughout the product life circuit? How will this affect the advertising of your picked product? (minimum 100 words) The product of life circuit describes the stages a really new product thought goes through coming from beginning to end (Perreault, Canon, & McCarthy, 2009, l. 261). The item life circuit has four stages: marketplace introduction, market growth, market maturity, and sales fall.

Let’s consider the electric cars such as The Machine Leaf; this device is in the marketplace introduction level. Indeed, Nissan’s sales happen to be low; buyers are not seriously looking for the product as they may not even have recommended how this product works and what is their true benefit. At this stage, Nissan’s marketing will probably be affected because several informative promotions and enormous monetary opportunities will be required to let the customers know about the modern electric car that is available on the market. Once the consumers learn about Nissan’s electric car, the product will certainly enter in the next stage of market development.

Sales will increase and Nissan will make much larger profits; yet , the competition will also start to more and more notice that the consumers are shopping for more electric cars. Then simply, the Nissan’s product is going to move to another stage, industry maturity; throughout this stage Nissan’s sales very likely will level off while there will be various competitors who will be advertising electric vehicles. Finally, within the last stage of sales decrease, Nissan begins replacing its Leaf model with more recent models (Perreault, Cannon, & McCarthy, 2009).