10 Questions
What is the primary difference between a trend and a fad?
Trends can influence the market long-term, while fads quickly lose popularity.
What is a key characteristic of a trend according to the provided text?
Staying long-term in the market
When does a trend become easy to spot?
When it transforms from a fad
What happens to a fad according to the text?
It quickly rises and falls in popularity
What did the ALS Ice Bucket Challenge demonstrate according to the text?
The power of marketing and programs to raise awareness
What distinguishes trends from fads?
Trends have identifiable reasons driving audience patronage, while fads are limited to a single industry.
How do successful companies distinguish between fads and trends according to the text?
By assessing the value of products and skillfully evolving fads into trends.
What happens if a company ignores a trend, according to the text?
It will likely be left behind in the market.
Why is it challenging for smaller companies to promote faddish items compared to larger companies?
Larger companies invest only in identified trends, while smaller companies can't predict trends.
What is the consequence of wrongly conceiving a fad as a trend according to the text?
Forced closure of the organization.
Learn about the differences between trends and fads, and how trends can have a long-lasting impact on the market compared to short-lived fads. Explore recent trends like foodie-ism, ethical living, responsible consumerism, and more.
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