Identify where each of the following products likely lie on a traditional Product Life Cycle. Justify each of your answers with the most current data and research you find on the Internet (e.g. sales, product development, competition, consumer feedback, etc.) c) Electric Car (Toyota Prius, Chevy Volt, Tesla, etc.)
Identify where each of the following products likely lie on a traditional Product Life Cycle. Justify each of your answers with the most current data and research you find on the Internet (e.g. sales, product development, competition, consumer feedback, etc.)
c) Electric Car (Toyota Prius, Chevy Volt, Tesla, etc.)
Introduction;-
Initiation, Development, Mature, and Regression are the 4 stages of the product ’s life cycle. As shown in a medium post on MarketResearch.com, real economy research is necessary when entering a new industry to commercialise to help with choices such as where ones commodity will go and how that will get somewhere; who would also sale it; how you'll start charging for it; and, most pertinently, if anybody would want to consider buying your commodity or service at all.In order to further expand, firms must immediately ask lingering questions, as well as study new competition, prospective new customers, and any modifications in marketing strategy during the Growth phase. Your enthusiasm can either crescendo or stagnate as your business reaches a certain age. Concentrate your research programs on competitor analysis in the aim of obtaining part of their existing customers to assist drive your item to greater success.
Step by step
Solved in 2 steps
