Question

what stage of the product life cycle is the nissan LEAF in right now? explain?

Answer 1

Generally there are four stages of the product life cycle -

• Market introduction
• Growth
• Maturity
• Sales decline

Nissan LEAF which is all-electric car by Nissan, right now it is in market introduction stage of the product life cycle. Electric cars are comparative new in the market with innovative technology and consumers are not very much aware of the product therefore demand is very low for the product. The company has to make lots of investment in the marketing and awareness building by giving information about the product to the prospective consumers. Therefore we can say that the Nissan LEAF is in market introduction stage of the product life cycle where market risk for product acceptance is higher.