Essay Paper on Hybrid Car Product Life Cycle
This paper is devoted to viewing hybrid car product life cycle by the example of Chevrolet Captiva introduced by GM Daewoo Company in 2007. Thus, we are going to consider in more details which stages the Captiva is supposed to overpass and what marketing solutions can be developed in order to keep the product profitable as long as it is possible.
As far as in this work we are going to contemplate the product life cycle of the newly developed hybrid car in more details, it is first necessary to define the stages of the product life cycle in general in order to consider these stages regarding our Chevrolet Captiva in particular.
Upon the whole, there are four stages such as introduction, growth, maturing and decline of a product. Consequently, the product revenues depend considerably upon the stage the product is in. during the stages of introduction and growth the revenues are supposed to be on the increase while the profits are at their top during the maturity stage. And finally, the decline stage adumbrates the reduction of revenues and as a consequence the product’s discontinuation.
Our interest lies in the platitude of marketing of Chevy Captiva in every stage of its product life cycle. Thus, when we view the first stage – introduction of this vehicle – it is necessary to mention that the branding and quality levels were supposed to be established and the vehicle had to approve itself as a decent premium quality budget car. Estimated pricing was supposed to be affordable for middle class. As for the marketing, it is known that new products are supposed to be marketed as if the customers could not live without them. The stress here was made on the efficiency of the hybrid of gas-diesel engine under Captiva’s hood which promised to save costs of the customers as well as make them environmentally conscious people.
When we view growth stage, which seems to continue at the moment ad for this particular vehicle – Chevrolet Captiva, it consists in the following. As far as almost a year passed since the vehicle’s introduction, it is known that this new kind of a Chevrolet introduced by GM Daewoo is not only the Chevy’s first diesel, but also its chassis are reliable, styling is considered a new era of the Chevy design, interior is measured to hold up to 7 passengers in it, its safety characteristics promise security for all the family (that is stated to be the most precious cargo), the quality is tested, and its trim level is promising. Thus it is evident that the quality of the car is guaranteed. At this stage the Captiva’s pricing is more or less stable, and the pricing is supposed to undercut the competitors’ 4x4s. As for the distribution, it is possible to buy this car online now, and it will be even cheaper than the manufacturer’s price. When we consider marketing, people have to be interested in the car, thus, such promotional actions as scratch card inventive marketing strategy can be used.
The maturity stage for the Chevy Captiva still seems to be in after days. It will require some enhancement of the vehicle’s features in order to overbear the competitors. Also, the price of Captiva can decline because of the competition. In order to promote the car and make the consumers wish to buy it some incentives can be suggested, as well as the stress on the economy can be introduced. It is also needed to market the car in other countries.
And finally, when we contemplate the decline stage of the product under discussion, the Captiva has to be maintained – and new features can be suggested to keep it popular. For instance, partial or even complete abandonment of fuel (even diesel) can be suggested, and Captiva can be made electrically charged. The pricing can be reduced. Or, if the new model s introduced it will have to be marketed as a new product (thus, its life cycle will start from the beginning). Otherwise, the Captiva model can be discontinued or sold to some other company which will wish to continue developing and producing it…
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