Question

PLC and the Diffusion of Innovation

• Identify the stage your product is in on the Product Life Cycle (PLC).  

• Then, based on the stage your product is in on the Product Life Cycle, you will identify the consumers you will be targeting in terms of the Diffusion of Innovations.  

By using the question above, make the summary by using Nissan Almera as the brand and search Nissan Almera (PLC) and Diffusion of Innovations (300-350 words)

Answer 1

Product Life Cycle(PCI)

The product life cycle describes the life of a product in the market with respect to business/commercial costs and sales measures. It proceeds through multiple phases, involves many professional disciplines and requires a multitude of skills, tools and processes.

This would basically embarks the lifespan of product at its different life stages.

The stages of the product life cycle are:

• Introduction
• Growth
• Maturity
• Decline

Before analysing the NISSAN ALMERA’s Diffusion of innovation (DOF) ,we  must know the exact meaning of DOF.

Diffusion of Innovation (DOF)

This model helps a business to understand how a buyer adopts and engages with new products or technologies over time. Companies will use it when launching a new product or service, adapting it or introducing an existing product into a new market.

It shows how the product can be adopted by different categories of customer types and how to engage as a business with these types of people.

The escalation of certain products, services or an idea starting off in a slower fashion, but as company get older and innovative people start noticing and also start adopting it quickly.

Different stages of DOF includes-:

1- Knowledge

2-Persuation

3-Decision

4-Implementations

5-Conformation

Case of Nissan Almera

We can see the official figures of sales and registered cars of the Nissan Almera, it will have a bell - curve shape. This shape is consistent witht the fact that the product took quite some time to get public approval, but once people took note of novel ideas such as anti-lock brakes, brake assistance, light steering, reasonable mileage,etc, word of mouth spread and people began to adopt quickly to the car. The marketing was on point and the car proved to be a great buy for commuting within the city, especially for the office workers who would travel from home to office on daily basis.

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