Successful Brands

Hi guys! All this talk about products/services makes me think about the various products/services that have come and gone in our lifetime. To relate back to the Product Life Cycle, which has four aspects to include: the length, shape, the product and the life cycle/consumers. If we look at the length and shape aspect these have to do with how the consumer receives the product. The time it will take for a product to move through the stages of the life cycle (Introduction, Growth, Maturity, Decline) is based on if the consumers find value in the product.

Since we are living in a technological age, let’s talk about how the first computer was received by consumers. Since, the first computer was a high-learning product (requires the consumer to gain significant knowledge to use the product) the introduction stage for the first computer would be much longer than if a new model of computers were to come out today because it would be a low- learning product (requires little learning by the consumer).

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This all makes since because if we as consumers have to learn a significant amount of new information on how to use a product then it will take us longer to actually try it because it will take some time to gain the benefits of it. This is a part of the concept called the Diffusion of Innovation. The ideal is that there are 5 categories of consumer based off of their purchasing characteristics. For instance, we all know those individuals that are willing to take that chance and you will often find pre-ordered the new version of the IPhone or stand outside to get a pair of the first Google glasses. These individuals is who we would call the Early Adopters, they help to create social standards because of their courage to try new products. Do you consider yourself an Early Adopter? Or are you with the Early Majority who usually wait a while before making new big purchases such as technology?

 

(Kerin, Hartley, & Rudelius, 2015)

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            If we look at fashion and fad products, I’m pretty sure we can all think of some products that were simply not successful at all and we can all think of some fashion trends that have died out and possibly returned. In terms of fad products, which are introduced and then decline, an example would be car tattoos, which were sold in Southern California as a way to have removable and reusable car graphics. An example of fashion products would be high-waisted jeans, these were popular in the 1940s and 50s but have made a comeback.  What are some examples of Fashion or Fad products that you can think of? Until next time you guys!