The Hula Hoop, Pet Rock, and Cabbage Patch Kid were all crazes known as fads. These products, like most fads, entered the market quickly, created a consumer obsession, sold millions of units in a short amount of time, and declined just as rapidly. Their special product life cycle of quick, dramatic sales and a sharp, drastic decline differs from the five stage product life cycle concept

Hula Hoopers enjoy one of the current fads of their day.

of product development, introduction, growth, maturity, and decline. Fads have a limited following and tend to die quickly because they do not satisfy a strong consumer need.

The Product Life Cycle

The course that a product's sales and profits take over its lifetime is the product life cycle (PLC). Marketers know that all products will have some type of life cycle, but the shape and length is not known in advance...