Product Life Cycle of Fads & Trends Essay

Products with short PLCs The products that follow a short PLC are called â€Å"Fads†. Fads are fashions that come quickly into public view, are adopted with great zeal, peak early & decline fast. Fads do not survive because they do not normally satisfy a strong need. The marketing winners are those who recognize fads early and leverage them into products with staying power. In this paper, a concise description of short life cycle products is provided. The industries analyzed range from entertainment to health foods. The challenges faced by marketers in each industry to build brand equity are analyzed in depth. A study of common challenges across categories gives a generic idea of the challenges faced by products with short PLC. The solutions to these challenges are proposed. Fashion â€Å"the currently accepted or popular style†- generally what the majority of people follow in clothing, fast food, etc. Fashion cycles may last for some time as they spread beyond the innovators. Fad cycles are short and do not re-occur – â€Å"fashionable only to certain groups† Styles are Fashions / Fads that come back over time and can last a short few months, or a couple of years – very common in the clothing industry and house decor. The World of innovations has witnessed many Fads. A brief leap into time reflects the trends of Fads: 1960’s – Bellbottoms, Platform Shoes 1970’s – Disco Music 1980’s – Friendship Bracelets, Break Dancing 1990’s – Napster, Flared Jeans 2000’s – Health & Energy Drinks, American / Indian Idol Business Sector-wise Distribution of Products with Short PLC Health Foods Diet foods have a short PLC because they generally come into existence because of the popularity of an individual who propagates health / diet foods. Challenges to Marketers: †¢ Diet foods may not appeal to the sense of taste of each & every individual. †¢ Lack of immediate results leads to loss in confidence in the product. Events Gala events & theme parties hosted by celebrities, and media shows are products with short PLC from the perspective of the event organizers. Challenges to Marketers: †¢ Events are expensive, so they lack consistency. Events are at times just an outcome of snob factor. Remix Albums Albums by DJs and remixes of old songs are not examples of great music or lyrics. They just follow the present trend that is popular among the youth who desire variety and change. Challenges to Marketers