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Product Life Cycle

The Product Life 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 cert*****in point, an optimum level is achieved and the rest, they say, ***** history.

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

Due to ***** increasing awareness and fascination of the 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 ***** 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 tr***** in the market for which a huge number of people ***** willing to p*****y to become *****able in every sense of the word. Th***** characteristic con*****ibutes to ***** success of the companies ***** the fashion industry.

Tremendously influenced by technology, the target market in fashion does not ***** rema***** constant ***** that they tend to go ***** a trendier br*****nd or ***** that *****fers them products 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 liv*****g org*****nism. This evolution which involves the birth, its growth, maturation, and eventually the death of the product is commonly referred to as the Product ***** Cycle ***** PLC in the ***** *****dustry. One of the ***** significant characteristics of ***** Product Life Cycle (PLC) is the depletion ***** the product's market potential due ***** several factors ***** its ex*****tence in ***** market. (Liu, 2001)

In the fashion industry, these factors affecting 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 ***** a ***** style or trend in the industry. This trend m*****y, however, be affected by technological advancements that directly influences the potential markets in the ***** industry. Since these fac*****rs ***** 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. (Liu, 2001)

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

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