Fashion, Fad, Basic

Question 1

Fashion definition

Answer 1

usually last for a shorter period of time than a
basic product. Products within this group have a short life- cycle; the length of this cycle follows the latest fashion trend and popular styles. When they reach maturity they decline fast. Examples of this product within this group are clothes, House decor. (Repeats every few years)

Question 2

Basic definition

Answer 2

offer the longest product life-cycle. Products within this group have a stable and long life-cycle because there is a substantial need for the product in the market. These products will not generally decline unless there is a major product innovation to replace the need for the product.

Examples of products within this market are: Cars, Refrigerators, Cookers, and Houses etc.

Question 3

Fad definition

Answer 3

Offer the shortest life cycle, this life cycle will experience rapid growth followed by a very steel decline in sales. Fad products are normally adopted by groups of young people. Eg furies, clackers, tamagotchi, rollerdiscos, foam parties.