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Fashion Product Lifecycle
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Maturity
This stage is marked by a slowdown in sales growth as the product saturates the market. Key activities include advertising to reinforce brand, offering promotions, and considering product modifications.
Expansion
Here, the brand seeks to expand its reach by entering new markets or customer segments. Key activities include market analysis, strategic partnerships, and new marketing campaigns.
Revival
In some cases, older fashion trends become popular again. Key activities include assessing market demand, re-introducing products with a modern twist, and targeted nostalgic marketing.
Obsolescence
This final stage indicates that the product is no longer desirable. Key activities focus on liquidation, recycling, or repurposing of the product and materials.
Growth
In this stage, the fashion product gains popularity and market share. Key activities involve market research, brand differentiation, and increasing distribution channels.
Decline
Sales and profit margins decrease during this stage. Key activities involve managing stock levels, discounting, and phasing out the product.
Introduction
This stage involves the launch of a new fashion product into the market. Key activities include advertising, promotions, and careful monitoring of distribution.
Saturation
Occurs when the product is fully integrated into the market and competition is highest. Key activities include competitive pricing strategies, product variations, and targeted marketing.
Innovation
In this phase, new designs and trends are introduced to refresh the brand and product offerings. Key activities include design development, trend analysis, and prototype testing.
Reinvention
In this stage, the fashion product or brand undergoes significant changes to stay relevant. Key activities include rebranding, product redesign, and exploring new channels.
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