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


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Product Life Cycle

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

Introduction

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

Oftentimes, these *****s 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 ***** the creation and the ***** ***** ***** product. This usually happens with ***** that are technologically based such that the continuing technology advancement leaves the product behind. There*****e, after it reaches the optimum level in ***** market, the product will eventually end *****s marketing potential.

Due to the increasing awareness and fascination of ***** 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 certain company in the f*****hion industry.

The fashion ***** is the 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 the word. This characteristic con*****ibutes to ***** success of the companies in the fashion industry.

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

Product Life Cycle ***** the ***** Industry

***** products in the market are found to exhibit a pattern of evolution that resembles the life of a living org*****nism. This ***** 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 ***** *****. One of the ***** significant characteristics of ***** Product Life Cycle (PLC) is the depletion of the *****'s market potential due ***** several factors ***** its existence ***** ***** 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 ***** growth of the general economy; the availability of substitutes; and the pace of ***** introduction ***** a new style or trend in the industry. This ***** may, however, be affected by technological advancements that directly influences the potential markets in the ***** industry. Since these fac*****rs ***** to evolve over time with a ***** degree of unpredictability, new information about them can ***** expected to arrive on a continuous basis during a product's ***** cycle. (*****, 2001)

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

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