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

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

***** to the increasing awareness and fascination ***** ***** people ***** fashion, especially the 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 factors affecting the stability of a cert*****in company in the f*****hion industry.

The fashion industry is ***** most demanding among other industries regarding change. It sets the tr***** in the market for which a huge number of people are willing to pay to become *****able in every sense of ***** word. This characteristic con*****ibutes 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 products that are of their money's worth.

Product Life Cycle in the ***** Industry

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

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

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

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