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 ***** Gucci

Introduction

Every product in the market has a potential. Especially upon the introduction of the new *****, consumers are too eager to try ***** newest and the freshest product available in the market. At a certa***** 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 ***** products will have to decline due to several fac*****rs that were overlooked upon the creation and the introduction of the product. This usually happens with products that are technologically based such that the continuing technology advancement leaves ***** product behind. Therefore, after it reaches the optimum level in ***** market, the ***** will eventually end *****s marketing *****.

Due to ***** increasing awareness and fascination of the people with fashion, especially ***** 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 cert*****in company in the fashion industry.

The fashion ***** 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 *****able in every sense of the word. This characteristic contributes to ***** success of the companies in the fashion industry.

Tremendously influenced by technology, the target market in fashion does not ***** ***** constant ***** that they tend to go ***** a *****ier br*****nd or company ***** *****fers them products that are of their m*****y's worth.

Product Life Cycle in the ***** Industry

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

***** ***** fashion industry, these factors affecting the PLC of the product or more specifically ***** brand, may include, although not limited to the state and ***** of the general economy; ***** availability of substitutes; and the pace of ***** 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 fac*****rs tend to evolve over ***** ***** a signific*****nt degree of unpredictability, new information about them can ***** expected to arrive on a c*****tinuous basis during a product's life cycle. (*****, 2001)

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

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