1. In what stage of the product life cycle is the Toyota Prius?

Explain.

Prius (Latin for “to go before”) was introduced to the Japanese market in 1997 amid much publicity and extravaganza.
It was the world’s first mass-produced car powered by a combination of gasoline and electricity. For the Toyota Motor Corporation, the Prius product launch represented a major strategic commitment and a long-term financial gamble. The Prius story begins in the early 1990s when Toyota released its first Earth Charter, setting the goal of minimizing its overall environmental impact. In September 1993, the company began to plan for the development of a car for the next century. Called Globe 21st Century, or G21, the plan was to produce a car with better fuel economy and lower emissions than existing automobiles.