Basic Products
A product bought/sold for years with few style changes. E.g. Jeans and T-shirts
Businesses selling basic product can count on a long product lifecycle with the same customers buying multiple units of the same product at once over time.
Fashion Products
Life cycles last a shorter time than basic product life cycles. By definition, fashion is a style of the time.
A large number of people adopt a style at a particular time. When it is no longer adopted by many, a fashion product ends its cycle.
Fad Products
The fad is the shortest life cycle. It is typically a style that is adopted by a particular sub-culture or younger demographic group for a short period of time.
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