Fads: Fads: Segmenting the Segmenting the

Fad-Buyer Fad-Buyer MarketMarket Dr. Charles BlanksonDr. Charles Blankson

Department of Marketing & Department of Marketing & LogisticsLogistics

Introduction Introduction A fad is defined as a product that experiences rapid, A fad is defined as a product that experiences rapid,

unexpectedly high sales followed by a decline. These unexpectedly high sales followed by a decline. These sales are enthusiasm driven and may follow a decline in sales are enthusiasm driven and may follow a decline in sales only to experience a boost in sales later down the sales only to experience a boost in sales later down the road. An example of this would be the yo-yo which was road. An example of this would be the yo-yo which was created decades ago but still experiences peaks of created decades ago but still experiences peaks of popularity.popularity.

The consumption of fad products offers a lens into The consumption of fad products offers a lens into current social events and valuescurrent social events and values

Marketing literature has not developed many guidelines Marketing literature has not developed many guidelines or prescriptions to retailers/firms wishing market fadsor prescriptions to retailers/firms wishing market fads

Literature has not explored fad purchasing and Literature has not explored fad purchasing and consumptionconsumption

EnablersEnablers

Purchase fads for others and are typically Purchase fads for others and are typically parents of younger children. This allows the parents of younger children. This allows the children to experience group affinity.children to experience group affinity. Examples of EnablersExamples of Enablers

Poppal ( Little stuffed animal critters that Poppal ( Little stuffed animal critters that could fold into a little ball and go into a could fold into a little ball and go into a little pouch)little pouch)

My little PonyMy little Pony Barbie’s (replaced by Bratz Dolls)Barbie’s (replaced by Bratz Dolls) Cabbage Patch DollsCabbage Patch Dolls Teenage Mutant Ninja TurtlesTeenage Mutant Ninja Turtles Nintendo (replaced by Xbox, Playstation Nintendo (replaced by Xbox, Playstation

2)2) G.I. JoesG.I. Joes Legos Legos Silly PuddySilly Puddy GakGak

Belongers Belongers

Similar to Enablers, however, Belongers Similar to Enablers, however, Belongers purchase the product for themselves. purchase the product for themselves. Mostly teenagers are considered Mostly teenagers are considered belongers. They do this to feel group belongers. They do this to feel group affinity.affinity. Bell bottom jeansBell bottom jeans Platform shoesPlatform shoes Glow in the dark starsGlow in the dark stars Power BeadsPower Beads Paco/ Jnco JeansPaco/ Jnco Jeans Polar Bear JacketsPolar Bear Jackets Beepers/ Pagers (replaced by cell phones and Beepers/ Pagers (replaced by cell phones and

email)email) Lava Lamps and BlacklightsLava Lamps and Blacklights Mood Rings ( replaced by the livestrong/ Mood Rings ( replaced by the livestrong/

cancer awareness braclets)cancer awareness braclets)

Status-Conscious:Status-Conscious:

A need to personally feel status achievement, even if A need to personally feel status achievement, even if this achievement is not displayed to others. Can also this achievement is not displayed to others. Can also be viewed as a waste of money.be viewed as a waste of money.

ClothingClothing Accessories ( Jewelry, watches, belts, etc.)Accessories ( Jewelry, watches, belts, etc.) Kitchen Appliances ( Bread makers, Juicer)Kitchen Appliances ( Bread makers, Juicer) Automobiles (classic cars, H2 in California, Automobiles (classic cars, H2 in California,

exotic cars)exotic cars) Seasonal Homes ( Having multiple houses in Seasonal Homes ( Having multiple houses in

various locations)various locations)

NonchalantsNonchalants

Simply liked a product that happened to be Simply liked a product that happened to be popular. Consumers bought the products popular. Consumers bought the products due to the fact that they did like the due to the fact that they did like the product, not for the sheer fact that it was product, not for the sheer fact that it was labeled as a fad, or a trendsetter. labeled as a fad, or a trendsetter.

Icicle LightsIcicle Lights Jack-o-lantern garbage bagsJack-o-lantern garbage bags Food (Atkins, Jenny Craig, Simple choice)Food (Atkins, Jenny Craig, Simple choice) Beverages ( Budweiser, Miller Lite, Corona, Beverages ( Budweiser, Miller Lite, Corona,

Samuel Adams, Vanilla Coke, The Original Samuel Adams, Vanilla Coke, The Original Coke, Jolt, Red Bull)Coke, Jolt, Red Bull)

Cars (BMW, Ford Mustang, Transam, Camero, Cars (BMW, Ford Mustang, Transam, Camero, PT Cruiser, Dodge Ram, VW Beatle)PT Cruiser, Dodge Ram, VW Beatle)

Ipod’sIpod’s North Face FleeceNorth Face Fleece Nike SoxNike Sox

Current EventersCurrent Eventers

Memorabilia of meaningful events. Interests Memorabilia of meaningful events. Interests in history and current events.in history and current events.

American Flags after 9/11American Flags after 9/11 Magnetic Car RibbonsMagnetic Car Ribbons Campaign memorabiliaCampaign memorabilia Berlin Wall Berlin Wall Apollo 11 and 13 remnantsApollo 11 and 13 remnants War Memorabilia (bullets, weapons, medals, War Memorabilia (bullets, weapons, medals,

uniforms, pin’s)uniforms, pin’s) Beatles memorabiliaBeatles memorabilia Princess DianaPrincess Diana Y2KY2K

Hobbyists Hobbyists

People who initially purchases products while People who initially purchases products while in a fad state, while awareness and availability in a fad state, while awareness and availability was high. High personal involvement.was high. High personal involvement.

StampsStamps Baseball CardsBaseball Cards CoinsCoins Spoons and ThimblesSpoons and Thimbles Weapons (swords, knives, guns)Weapons (swords, knives, guns) Beanie BabiesBeanie Babies American Girl DollsAmerican Girl Dolls Fishing equipmentFishing equipment Gambling Chips (different poker chips from Gambling Chips (different poker chips from

various casino’s)various casino’s)

SpeculatorsSpeculators

Individuals who purchase fad items with a Individuals who purchase fad items with a motivation to resell the item at a higher profit. motivation to resell the item at a higher profit.

CarsCars Beanie BabiesBeanie Babies Baseball CardsBaseball Cards CollectablesCollectables AntiquesAntiques Hummel'sHummel's

Implications for Marketing Implications for Marketing ManagersManagers

It’s hard to say if one can really pin point It’s hard to say if one can really pin point how to tell when something will become a how to tell when something will become a fad or not. There is no real way of fad or not. There is no real way of determining this. For mangers its definitely determining this. For mangers its definitely a nerve racking process, cause you don’t a nerve racking process, cause you don’t know exactly what will work.know exactly what will work.

When it comes to advertising as a manager When it comes to advertising as a manager have to know what segment group you are have to know what segment group you are trying to target your product towards once trying to target your product towards once you decide that, then you decide whether or you decide that, then you decide whether or not if you should have a TV commercial, not if you should have a TV commercial, newspaper article, radio announcement, newspaper article, radio announcement, billboard, etc.)billboard, etc.)

Implications for marketers Continued

Marketers should pay attention to Marketers should pay attention to fads as much as they do for trends, fads as much as they do for trends, because from a marketing because from a marketing management perspective, one reason management perspective, one reason to examine fads is how their short to examine fads is how their short term nature affects the market share term nature affects the market share in some markets.in some markets.

Understand the seven fad segments, Understand the seven fad segments, and how these individuals behave in and how these individuals behave in terms of buying and spending. Once terms of buying and spending. Once marketers understand the behavior marketers understand the behavior and existence of fads, these should and existence of fads, these should form the basis of marketing form the basis of marketing strategies/tactics.strategies/tactics.

QUESTIONS ?QUESTIONS ?

WHAT OTHER MARKETING WHAT OTHER MARKETING IMPLICATIONS ARE IMPLICATIONS ARE

IMPORTANT FOR IMPORTANT FOR UNDERSTANDING THE UNDERSTANDING THE FAD-BUYER MARKET ?FAD-BUYER MARKET ?