question archive Paraphrase this: The product life cycle are Nissan Vehicle Subscriptions and Apple's iPhone respectively
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Paraphrase this:
The product life cycle are Nissan Vehicle Subscriptions and Apple's iPhone respectively.
Marketing managers rely on the product life cycle as a reference when planning and acting on their marketing plan for the product as this discussion prompt indicates.
In Principles of Marketing, the early stage of the product life cycle is called the introduction stage which is the same as the commercialization stage of the new product development lifecycle (The University of Minnesota, 2015).
During the introduction stage, the goals are to make consumers aware of the new product, entice them to buy it and convince distributors to carry the product (Migrator, 2019).
The mature stage, alternately, is when a product reaches level sales growth, or the end of upward growth (The University of Minnesota, 2015).
During the mature stage, the goals are to prolong the lifespan of the product by differentiating from the competition, creating new features and editions, and adjusting the price for competitiveness (Migrator, 2019).
Nissan Vehicle Subscription is an example of introduction stage products
Nissan vehicle subscriptions were introduced early 2020 so the service is in the introduction stage
of the product life cycle.
This type of program offers concierge service with maintenance, roadside assistance, insurance and
the ability to change cars at varying lengths of time (Edmonds, 2019). Nissan has competition like the
programs by Porsche, Jaguar, Land Rover, BMW, Lexus, and companies independent of car manufacturers (Hyatt & Szymkowski, 2020).
Nissan's offering is at the lower end of the price points for this type of service and offers the ability to
swap cars daily (Davies, 2020). The marketing campaign is being handled by Nissan itself in the
market area chosen for the release with a targeted social media campaign (Gazdik, 2020).
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