Essay - Product Life Cycle the Product Life Cycle of the Fashion...


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Product Life Cycle

***** Product ***** Cycle of the Fashion Industry - A Case Study ***** Gucci

Introduction

Every product in the market has a potential. Especially upon ***** introduction of the new product, consumers are too eager to try ***** newest and the freshest ***** available in the market. At a cert*****in point, an optimum level is achieved and the rest, they say, ***** history.

Oftentimes, these products remain in the market for a longer period of time, however, a time comes when ***** products will have to decline due to several factors that were overlooked ***** the creation ***** the introduction of ***** product. This usually happens with products that are technologically based such ***** the continuing technology advancement leaves ***** product behind. There*****e, after it reaches the optimum level in ***** market, the ***** will eventually end its marketing *****.

Due to ***** increasing awareness and fascination ***** the people with fashion, especially ***** younger generation, new brands emerge continuously offering affordable products that are fashionably competitive to even the established fashion brands offered expensively. This situation just as yet one of the ***** affecting the stability of a cert*****in company in the f*****hion indus*****.

The fashion industry is the most demanding among other industries regarding change. It sets the trend in the market for which a huge number of people *****re ********** to pay to become *****able in every sense of ***** word. This characteristic contributes to the success of ***** companies in the fashion industry.

Tremendously influenced by technology, the target market in fashion does not however remain constant such that they tend to go ***** a trendier br*****nd or company ***** ********** them ***** that are of their money's worth.

Product Life Cycle in the ***** Industry

***** products in the market ***** found to exhibit a pattern of evolution that resembles the life of a living organism. ***** ***** which involves the birth, its growth, maturation, and eventually the death of ***** product is commonly referred to as the Product ***** Cycle ***** PLC in the ***** *****dustry. One of the most significant characteristics of ***** Product Life Cycle (PLC) is the depletion ***** the *****'s ***** potential due to several factors affecting its ex*****tence in the market. (Liu, 2001)

***** the fashion industry, these factors affecting the PLC of the product or more specifically ***** brand, may include, although not limited to the state and ***** of the general economy; ***** availability of substitutes; and the pace of the introduction ***** a ***** style or trend in the industry. This trend may, *****, be affected by technological advancements that directly influences ***** potential markets in the ***** industry. Since these factors tend to evolve over ***** with a significant degree of unpredictability, new information about them can be expected to arrive on a c*****tinuous basis during a product's life cycle. (Liu, 2001)

Since PLC is based upon the biological life cycle, thus, "for example, a seed is planted (*****); it begins to

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