1. What is the difference between a fad and an enduring product?
Many people think that trends and fads are same but there are distinction between trends and fads. They are not only different in meaning but also the effects and the opportunities they provide. The main distinctions between trends and fads are cause, impact and durability.
Generally fads have short-lived, easy to predict and do not have lasting significant compared to trends. Usually, fads can become famous quickly and decline easily which means fads become popular quickly and disappear quickly. Fads commonly lasts for a season or at the most a year and typically driven by the media or by a brand. It rarely has roots in a strong consumer need. It typically affects just one demographic or industry sector. It does provide clues to future trends. (higham, 2009). Example of fads during 2010 is silicon wristbands, which was created by Robert Croak. These shaped-shifting silicon wristbands became so popular rapidly and millions of wristbands were sold (Guarini, 2012). One of the most popular fads during 1970s is the pet rock, which is the rock with manual in a cardboard box designed to look like a pet carrying case, and began selling them at $3.95 each.
A trend is actually German words and meaning is a general direction change: a way of behaving, proceeding, etc., that is developing and becoming more common. Trends are longer, over time they may become classic. Not like fads, trends typically affect more than one
For example as mentioned in the previous assignment Rose Gold became a popular colour among young people and so Apple decided to add a Rose Gold colour to their iPhone 6 collection. This affects Carphone Warehouse because on the release of the iPhone 6 with their new colour people, especially young people, would want to be the first to have the new trend before it gets sold out. Carphone Warehouse would have an increase in sales on the day of Apple releasing their product which would give them an increase in profit and enables them to buy more stock from their suppliers due to the popular demand of their product. Another thing that affects the business which is to do with the ageing population is older people also having phones however these phones need to be adjusted in order to suit the needs of older users. Carphone Warehouse need to make sure that they stock a range of products which includes phones suitable for older users.
BSBMKG622 Task 1
1. Political - New legislation to follow so the business' approach changes
Economic - Inflation changes the discounted price or sales price of the business' marketing approach
Social - the taste and lifestyles of customers as the basis
Technological - Advertising thru social media or other platforms to expand sales
2.
Trend Examples
Provide two for each trend.
Economic conditions Inflation, exchange rates
Labour market Unemployment rates, individual wages
Society and culture Consumer's lifestyle, demographic
Business and economics Human behavior and decisions, exchanging good and services
Technology Production, marketing
Resources and the environment Temperature, land
Legislation, policy and regulation Business,
Culture is the defining aspect of an entire society. Throughout America's history, each decade has displayed its own unique take on culture, through the arts, fashion, and pastimes. The 1950's were a time of bright colors, household gadgets and many of the shows and movies that are currently deemed 'classic' were originated in this era. Technology and household items Americans use every day were invented and have evolved since the 1950's. The 1950's were the beginning of an innovative time in American culture and included the creation of television, the growing popularity of movies, music and brand new inventions, however, unexpectedly conformity and consumerism resulted as well.
Popular culture is a culture based on what society deems to be sought-after, trendy or popular. This extends to everything, including; fashion, food, music, sport and entertainment. World War 2 allowed close affiliation between America and ourselves to take place. Originally, Australia’s culture was completely influenced by Britain. For the first time Australia experienced foreign leverage from a different country.
Fleeting trends during this time included jelly shoes, parachute pants, leg warmers and so much more. Although many look back and see these as silly, numbers of the 1980’s trends have reared their heads in modern culture in the form of ironic tee shirts, mom jeans, and bodysuits (DeLeon).
Although many things seemed good in the 1980’s, there was also issues plaguing America. The drug epidemic had by then spun completely out of control.
The importance of sneaker history on sneakerhead subculture is unequivocal as well as significantly having boosted revenue of the sneaker industry for the past decade. Sneaker gains its popularity from merely being used as shoes to a symbol of fashion. When mentioning sneaker history, it is inconceivable to ignore black culture. Sneaker culture and black culture are inseparable in which both emphasis the essence of Hip-hop culture. Wearing sneakers does not only aim for matching costume but also granting black a way of performing Hip-hop music and delegating black an exclusive identity.
What do you call a rock that listens to The Ramones? Punk Rock. While some people are familiar with this genre of music, there are others who have no clue what music it is. However, depending on the person, that may be a good thing.
The Punk Rock genre of music has affected American society because of trends, behavior, stereotypes, parenting, and suicide rates.
How does mainstream media influence sneaker culture in secondary markets?
Today through the help of mainstream media sneaker have made a huge impact not only in fashion but also in the market. Its influence gained a long way from the “training shoe in 1917” (O’Connor) to the multi-billion-dollar market of today. The influence created by the media, that spread through the help of the internet, celebrity endorsements, and television, played a significant role in the growth of the sneaker culture.
Social
Besides the many economic factors, there are also some social factors that will impact the future of the company. There are some of the social factors like changes in customers’ taste and preference, increase in number of population, population moving towards cities, increase in death/ birth rate. All of these factors will affect the company. The trend of the increasing popularity of mobile access is an opportunity (LOMBARDO, Panmore Institute, 2017) and therefore Apple has always kept up to date with the latest trend of design and technology.
Some of these aspects are cultural trends, demographics, population analytics, age distribution, employment levels, income statistics, cultural and social conventions. High trends in social factors affect the demand for a company’s product and how that company operates. For example increase in the health consciousness may affect the demand of a company’s product. As the average obesity in adults is 60.8% and children of 31.1%, people are becoming more health conscious and there is an increased focus on people to keep fit. Nike has seen the benefits from this as they have been an increase demand for fitness and sports related shoes and
Pop culture, short for popular culture, is the entirety of ideas, perspectives, attitudes, images, and other phenomena that are within the mainstream of a given culture (Wilson, 2014). It refers to products that are generally recognized and enjoyed by the majority of the people ((Wilson, 2014). Pop culture is manifested around the world through movies, music, television shows, newspapers, satellite broadcasts, food and clothing, sports, news (as in people/places in news), politics, and technology (West, 2016). Internet and social media also play a huge role in pop culture. Pop culture is almost often, if not always, interesting and appealing to most people.
