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Some products will be huge hits for a short period of time and then they’ll suddenly drop off the face of the earth. These are known as fads. Other products will creep into consumer’s lives and hang around for one, two, three or four years, and then they’ll slowly drop out of fashion. Those products are trends. And finally, there are products that didn’t really exist before but now that they do, customers can’t imagine their lives without them and they’ll continue to use and repurchase the products throughout their lifetime. These types of products are part of a growing market. We discussed these concepts in our Reverse Engineering the Perfect Product article, but we’ll break it down here as well:
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