UNDERSTANDING FADS<br />AN EXPLORATION OF SOCIAL INTERACTIONS TO UNDERSTAND HOW AND WHY FADS ARE CREATED.<br />
PRESENTATION STRUCTURE<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />How Fads Spread<br />Researcher’s...
Crocs, Tazos, Twitter, ZoZos, Facebook memes, Livestrong bands<br />Fads are all around us<br />What is the difference bet...
Deliberate Creation of Fads is on the Rise<br />Introduction<br /><ul><li>A meme called ‘25 things about me’ on Facebook s...
The popularity of the meme has resulted in 60 percent more Facebook profiles being created in the month of January 2009 wh...
What is a fad?<br /><ul><li>The simplest definition of a fad would be that of a short lived phenomenon, product, service, ...
Fads come quickly into public view, are adopted with great zeal, peak early & decline fast
Fads depend on promotion by early adopters and purchasers of fads display variety-seeking buying behavior</li></ul>Introdu...
What is a fad?<br />Identifying fads-<br /><ul><li>A trend that consists purely of hype
Becomes very popular very fast
Provides no actual product/service value to the consumer</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<...
Herd Behavior<br />Introduction<br />	Social psychologists advance several underlying reasons for conformity (or “herd beh...
Herd Behavior<br />Introduction<br />As per the theory, people react to the “bandwagon” effects (Nohria and Berkley, 1994)...
Mind viruses<br />Introduction<br /><ul><li>Some concepts, techniques and ideas prosper in the marketplace, not because of...
“Consumption is affected by the behavior of those around you, and the brain is bombarded by ‘designer mind viruses’ (memes...
Mind viruses<br />Introduction<br /><ul><li>Advertising memes will be able to infect consumers if they find a way to gain ...
More likely to occur if there is no “immunity” to the particular meme trying to infect consumers
Fads are can be linked to viruses - they spread simply because they are infectious and not because there is any inherent g...
The goal of marketing needs to be ‘one of infection not influence’</li></ul>Understanding a fad<br />Mind Viruses<br />Fad...
How Fads are created<br />The Law of Few:<br /><ul><li>The Tipping Point-</li></ul>There are a few exceptional people who ...
‘The Few’ consists of 3 types of special people-
Connectors who know a lot of people
Mavens who have a great bank of knowledge
Salesman who can persuade any one
A brand needs to be able to determine who these three personalities are and how to reach out to them</li></ul>Introduction...
How Fads are created<br />More successful fads have add-ons that allow some level of individuality while partaking in a fa...
You can be part of the herd and yet be individualistic</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br...
How Fads are created<br />Mass and easy availability<br /><ul><li>A fad has to constantly remind potential customers of it...
Products become fads only if they have a strong distribution channel- in order to flood all stores; and strong PR in order...
How Fads are created<br />No substitutes<br /><ul><li>A fad needs to be unique and cannot have any substitutes or else the...
Both Crocs and the Livestrong bands started their demise after cheaper substitutes flooded the market</li></ul>Introductio...
Upcoming SlideShare
Loading in …5
×

Understanding fads

1,792 views

Published on

Published in: Lifestyle
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,792
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
40
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Understanding fads

  1. 1. UNDERSTANDING FADS<br />AN EXPLORATION OF SOCIAL INTERACTIONS TO UNDERSTAND HOW AND WHY FADS ARE CREATED.<br />
  2. 2. PRESENTATION STRUCTURE<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />How Fads Spread<br />Researcher’s Hypothesis<br />How to create a fad<br />How to avoid early death<br />Testing the hypothesis<br />Primary Research<br />Experimental Research<br />Conclusion<br />
  3. 3. Crocs, Tazos, Twitter, ZoZos, Facebook memes, Livestrong bands<br />Fads are all around us<br />What is the difference between a trend and a fad? Elvis’s pink Cadillac was touted to be a fad, but eventually turned out to be an iconic symbol<br />Can you deliberately create a fad?<br />Do ZooZoos actually inspire people to buy Vodafone Prepaid cards?<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  4. 4. Deliberate Creation of Fads is on the Rise<br />Introduction<br /><ul><li>A meme called ‘25 things about me’ on Facebook saw a phenomenal rise in the usage of Facebook notes; which was a previously under-used feature of Facebook
  5. 5. The popularity of the meme has resulted in 60 percent more Facebook profiles being created in the month of January 2009 when the meme hit, than in the previous month of December 2008 (www.complete.com)</li></ul>Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  6. 6. What is a fad?<br /><ul><li>The simplest definition of a fad would be that of a short lived phenomenon, product, service, or activity that becomes very popular but is not long-lived due to it’s inherent lack of value
  7. 7. Fads come quickly into public view, are adopted with great zeal, peak early & decline fast
  8. 8. Fads depend on promotion by early adopters and purchasers of fads display variety-seeking buying behavior</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  9. 9. What is a fad?<br />Identifying fads-<br /><ul><li>A trend that consists purely of hype
  10. 10. Becomes very popular very fast
  11. 11. Provides no actual product/service value to the consumer</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  12. 12. Herd Behavior<br />Introduction<br /> Social psychologists advance several underlying reasons for conformity (or “herd behavior”), many of which are applicable to those who partake in fads<br />One such force is normative influence, which is operative when people wish to avoid being “left out” (Abrahamson and Rosenkopf, 1997)<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  13. 13. Herd Behavior<br />Introduction<br />As per the theory, people react to the “bandwagon” effects (Nohria and Berkley, 1994) simply because they desire to avoid being a laggard<br /> Another force for conformity, social pressure, differs from normative influence in that the motivation to consider fads is not the desire to be amongst the “in-group” but instead the desire to avoid sanctions associated with deviance. (Abrahamson, 1996)<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  14. 14. Mind viruses<br />Introduction<br /><ul><li>Some concepts, techniques and ideas prosper in the marketplace, not because of their economic reproductive capacity, but instead because of their interpersonal reproductive capacity
  15. 15. “Consumption is affected by the behavior of those around you, and the brain is bombarded by ‘designer mind viruses’ (memes) trying to infect them” Marsden</li></ul>Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  16. 16. Mind viruses<br />Introduction<br /><ul><li>Advertising memes will be able to infect consumers if they find a way to gain brain space
  17. 17. More likely to occur if there is no “immunity” to the particular meme trying to infect consumers
  18. 18. Fads are can be linked to viruses - they spread simply because they are infectious and not because there is any inherent goodness in them
  19. 19. The goal of marketing needs to be ‘one of infection not influence’</li></ul>Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  20. 20. How Fads are created<br />The Law of Few:<br /><ul><li>The Tipping Point-</li></ul>There are a few exceptional people who discover trends and through their social connections, charisma, personality and enthusiasm spread the message<br /><ul><li>‘6 Degrees of Separation Rule’ which signifies that people are linked to everyone else in a few steps
  21. 21. ‘The Few’ consists of 3 types of special people-
  22. 22. Connectors who know a lot of people
  23. 23. Mavens who have a great bank of knowledge
  24. 24. Salesman who can persuade any one
  25. 25. A brand needs to be able to determine who these three personalities are and how to reach out to them</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  26. 26. How Fads are created<br />More successful fads have add-ons that allow some level of individuality while partaking in a fad<br /><ul><li>Crocs come in a variety of colors and designs</li></ul>Jibbitz by crocs allowed customized add ons that could be attached to the holes in the crocs<br /><ul><li>Livestrong had a wide variety of colors representing different social causes, so that people could choose a cause that was close to them
  27. 27. You can be part of the herd and yet be individualistic</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  28. 28. How Fads are created<br />Mass and easy availability<br /><ul><li>A fad has to constantly remind potential customers of its existence
  29. 29. Products become fads only if they have a strong distribution channel- in order to flood all stores; and strong PR in order to ensure that people see celebrities or any other appropriate influencers using the products</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  30. 30. How Fads are created<br />No substitutes<br /><ul><li>A fad needs to be unique and cannot have any substitutes or else the novelty factor is lost
  31. 31. Both Crocs and the Livestrong bands started their demise after cheaper substitutes flooded the market</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  32. 32. Avoiding Death<br />The life cycle of a fad can have 2 possible conclusions –<br />It becomes popular too fast and fizzles out with equal rapidity. These are classic fads that follow the fad life cycle as already discussed<br />Or a brand becomes wildly popular then continues at a steady pace. Brands like this are known as iconic<br />The use of appropriate strategy can ensure that a fad gets extended into a trend or an icon<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  33. 33. Avoiding Death<br />Dampening Demand<br /><ul><li> The worst thing a company can do while setting a trend is to over-produce. If the market gets flooded with one product, it can lose its appeal
  34. 34. The fad will earn some amazing short-term sales, in the long term such market flooding will undermine a brand’s specialness and exclusiveness</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  35. 35. Avoiding Death<br />Dampening Demand<br /><ul><li> Crocs expanded rapidly and flooded the market. Livestrong could be seen everywhere. These products were being worn by anybody and everybody
  36. 36. Instead of patiently fanning the flames and reaping the benefits of long term success, these brands added fuel to the fire by trying to become instant hits
  37. 37. Overnight everybody was wearing them and then nobody wanted to be wearing them</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  38. 38. Avoiding Death<br />Resist Line Extension.<br /><ul><li>Fad items aren’t purchased for the product value derived from them; they satisfy a deep rooted social need for consumers
  39. 39. Line extension dilutes the uniqueness of the product and destroys fad value
  40. 40. Crocs didn’t just flood the market with a variety of its classic Crocs in a rainbow of colors; it added many other styles- Flip-flops, sandals and an assortment of other types of Crocs
  41. 41. Livestrong- Bands of different colors for different causes caused the original message of the brand and what it stood for to be lost </li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  42. 42. Avoiding Death<br />Control Distribution<br /><ul><li>Crocs went from being available in just a few retail outlets to being available in every imaginable retail outlet
  43. 43. That fuelled sales but also hurt the brand’s power with the distribution. Retailers no longer saw it special being able to stock Crocs
  44. 44. Livestrong’s ubiquitous availability dampened distributer enthusiasm in the product and the social message was lost in the consumerism</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  45. 45. Avoiding Death<br />Focus on Core Consumers<br /><ul><li>Many products that turn into fads do not position their product for any particular segment; they try to market the product to anyone and everyone
  46. 46. The brand cannot build a loyal customer phase, and hence boredom or substitutes can easily cause a decline in the product’s market
  47. 47. A brand that tries to appeal to everyone ends up appealing to nobody
  48. 48. Crocs, Livestrong - Loyalists saw these products on everyone and immediately moved to some other product since these brands didn’t make them stand out and look different anymore</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  49. 49. Primary Research<br /><ul><li>30 respondents were interviewed on the basis of a preliminary screening to ensure that they had actively participated in fads before
  50. 50. The findings from the primary interview corroborate the hypothesis formed by the researcher</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  51. 51. Primary Research<br />Key Findings-<br /><ul><li>None of the respondents could recall seeing advertisements of any of the fad products that they had purchased. Zoo Zoos were an exception
  52. 52. Respondents were successfully able to name key influencers and celebrities who purchased the same products
  53. 53. Majority agreed that they would not take part in the fad in any way if too many of their peers were already participating in it
  54. 54. Respondents claimed that they would stop participating in the fad if people they considered ‘uncool’ started participating in it</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  55. 55. Experimental Research<br /><ul><li>In order to test the hypothesis, an experimental research was conducted wherein the learnings from my research were applied in order to create an online fad
  56. 56. The hypothesis was to be considered valid if a minimum number of 5000 respondents participated in it</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  57. 57. The Fad<br /> A meme like activity was designed on Facebook where participants were supposed to upload silly photographs of themselves while they were sticking their tongue out<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  58. 58. Creating the Fad<br />The fad followed these basic key principals- <br /><ul><li>It was easy to participate in
  59. 59. It provided no tangible value to the participant
  60. 60. It was entertaining
  61. 61. Scope for individuality within a heard</li></ul>A facebook group was created for this purpose and 18 photos of<br />friends and family were tagged and uploaded<br />Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  62. 62. Spreading the epidemic!<br /><ul><li>25 Connectors with high networking skills were identified and approached to spread the fad. All connectors uploaded photos of themselves and updated their status messages urging people to upload their photos
  63. 63. Post about the group were regularly posted on other popular groups to increase traffic to the site</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  64. 64. Results<br /><ul><li>Within hours of starting the epidemic, there were 300 members in the official Facebook group
  65. 65. Reports of people uploading photos with their tongues sticking out started appearing more and more frequently in Facebook news streams within 10 hours</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  66. 66. Results<br /><ul><li>Within 2 weeks of its creation, the fad had crossed 3,000 members and the following article appeared on a popular technology website</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  67. 67. Results<br /><ul><li>By the end of the experiment, there were a total of 7,525 members in the group, and 4874 pictures had been uploaded, hence proving the experiment to be a success</li></ul>Introduction<br />Understanding a fad<br />Mind Viruses<br />Fads-<br />Birth & infection<br />Testing the hypothesis<br />Conclusion<br />
  68. 68. CONCLUSION<br />The research objective was successfully met as the researcher gained a clear understanding of what fads are, how they are differentiated from trends, their creation and how they spread <br />Additionally the researcher formulated a list of mistakes brands should not commit in order to avoid an early death<br />The successful conclusion of the experiment proved that the hypothesis formed was accurate and applicable to the industry<br />
  69. 69. THANK YOU<br />

×