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

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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 the market. At a cert*****in point, an optimum level is achieved and the rest, they say, is history.

Oftentimes, these products remain in the market for a longer period of time, however, a time comes when these products will have to decline due to several fac*****rs that were overlooked upon the creation ***** the ***** 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 ***** level in the market, the ***** will eventually end *****s marketing *****.

Due to the increasing awareness and fascination ***** ***** people with 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 certain company in the fashion indus*****.

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 *****re willing to pay to become fashionable in every sense of ***** word. This characteristic contributes to the success of the companies ***** the fashion industry.

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

Product Life Cycle in the ***** Industry

***** products in the market are found to exhibit a pattern of evolution that resembles the life of a liv*****g org*****nism. ***** ***** 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 the ***** *****dustry. One of the most significant characteristics of ***** Product ***** Cycle (PLC) is the depletion of the *****'s market potential due to several factors affecting its existence in the market. (Liu, 2001)

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

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

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