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A Brief History of FAD Products

A Brief History of FAD Products. Jeff Ward, Business Department HIGHLINE COMMUNITY COLLEGE. Fads of the 50s. Fads of the 60s. LSD. Fads of the 70s. Streaking!. Fads of the 80s. Fads of the 90s. Fads of the 2000s. Origins of FAD. Fiddle Faddle !

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A Brief History of FAD Products

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  1. A Brief History of FAD Products Jeff Ward, Business Department HIGHLINE COMMUNITY COLLEGE

  2. Fads of the 50s

  3. Fads of the 60s LSD

  4. Fads of the 70s

  5. Streaking!

  6. Fads of the 80s

  7. Fads of the 90s

  8. Fads of the 2000s

  9. Origins of FAD • Fiddle Faddle! • : nonsense —often used as an interjection • Shortened to FidFad. • Then, just Fad.

  10. What is a FAD? • developments that enter quickly, are adopted with great zeal, peak early, and decline very fast. (Kotler, 1994) • a temporary state of unusually high sales, driven by consumer enthusiasm and a desire to purchase a product or brand largely because of its immediate popularity. (Lilly, Nelson, 2003)

  11. Product Life Cycle Introduction Growth Maturity Decline Sales $ Time

  12. History of the Pet Rock • Began selling in late spring of 1975 • River rock (Rosarita Beach in Baja, California) • Pet Carrier • Straw bedding • Training Manual • $3.95 selling price • $ .95 cost

  13. History of the Pet Rock • Sold 5 million by mid-December, 1975 • $16 million profit • In 1975 dollars = • $56,000,000 today

  14. Yoyo Product Life Cycle 1600s 1700s 1800s 1900s FAD Sales $ Time

  15. Product Variations

  16. Product Add-Ons

  17. Specialty Products

  18. FAD Psychology? • Apart from general novelty, fads may be driven by emotional excitement, peer pressure (bandwagon), or even a desire to be outside social norms (rebellion).

  19. Beatnik

  20. Hippie

  21. Valley Girl

  22. Preppie

  23. Goth poop

  24. Utility • In economics, utility is a measure of relative satisfaction. • Utility may be affected by consumption of various goods and services and spending of leisure time.

  25. FADs and Utility • Most fads that take off, if not completely useless, have utility as a small part of their appeal. • They are fun at first, a statement of something second, and useful third. • A fad isn’t an innovation, and it usually doesn’t change throughout its short life.

  26. The PopeilVeg-O-matic = FAD

  27. FAD FAIL!

  28. Hello Kitty

  29. What’s Next? What’s Next?

  30. Jeff Pez Dispenser

  31. The question was: “Why are businesspeople (aka evil and unholy pillagers of the planet) allowed to waste natural resources, exploit workers, and pollute the planet in the production of useless and worthless objects that offer no benefit to society?” Average Businessperson

  32. It’s all about Utility • Who gets to decide what has utility? • Books about becoming a Neo-Nazi • Teddy Bears • Books about raw food diets • Combs • Park benches made from recycled plastic grocery bags • Plastic grocery bags

  33. If I Meet Someone’s Need for Utility: • I am creating jobs • The Standard of Living for many rises • I may be helping development in 3rd world countries • (No! You’re making them slaves to capitalism!) • I am paying more taxes to support the community • I am helping pay for research into better ways of utilizing resources • I am making little Charlie and Charisse happy

  34. Jeff’s Eco-Pez* Dispenser * Made from recycled bicycle tires.

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