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


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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 the introduction ***** the new *****, 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, ***** history.

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

Due to the 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 factors affecting the stability of a certain company in the fashion indus*****.

The fashion *****try is ***** most demanding among other industries regarding change. It sets the trend in the market for which a huge number of people ***** willing to pay to become fashionable in every sense of the word. This characteristic contributes to ***** success of the companies in the fashion industry.

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

Product ***** Cycle in the ***** Industry

Various products ***** the market are found to exhibit a pattern of evolution that resembles the life of a living organism. This ***** which involves the birth, its growth, maturation, and eventually the death of ***** product is commonly referred to as the Product Life Cycle ***** PLC in the *****ing *****. One of the ***** significant characteristics of ***** Product Life Cycle (PLC) is the depletion of 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 more specifically ***** *****, may include, although not limited to the state ***** ***** of the general economy; the availability of substitutes; and the pace of the introduction of a new style or trend in the industry. This trend may, however, be affected by technological advancements that directly influences the potential markets in ***** ***** industry. Since these factors ***** to evolve over time with a significant degree of unpredictability, new information about them can be expected to arrive on a continuous basis during a product's life 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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