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


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Product Life Cycle

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

Introduction

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

Oftentimes, these products remain in the ***** for a longer period of time, however, a time comes when ***** products will have to decline due to several fac*****rs that were overlooked ***** the creation and the introduction of ***** product. This usually happens with products that ***** technologically based such that the continuing technology advancement leaves the product behind. There*****e, after it reaches the optimum level in the market, ***** ***** 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 ***** stability of a cert*****in company in the f*****hion indus*****.

The fashion *****try is ***** most demanding among other industries regarding change. It sets the tr***** in the market for which a huge number of people ***** ********** 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 *****, the target market in fashion does not however rema***** constant such that they tend to go ***** a trendier brand or ***** ***** ********** them ***** that are of their m*****y's worth.

Product Life Cycle in the Fashion Industry

Various products in the market ***** found to exhibit a pattern of evolution that resembles the life of a liv*****g org*****nism. This ***** which involves the birth, its growth, maturation, and *****tually the death of the product is commonly referred to as the Product Life Cycle ***** PLC in ***** ***** industry. One of the most significant characteristics of ***** Product Life Cycle (PLC) is the depletion of the *****'s ***** potential due to several factors ***** its ex*****tence in the market. (Liu, 2001)

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

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

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