Developing and Managing Products

 Product stage of Hermes

When it comes to product life cycle of Hermes, it is difficult to determine unlike other high end luxury brands or products. Hermes products are known to be timeless with the quality that last forever.  That is why it worth every penny spent. For example, Birkin bags which first introduced to the market in 1982 after several decades later, the same leather bag is still in high demand. There are many factors that help determine where and which direction the product is heading. I have chosen to use Birkin bag as an example. The name Birkin is the last name of a British actress Jane Birkin

whom the bag was originally made to in the name of Hermes after he mentions about having to find a quality bag that could take care all of her needs to Jean Louise Dumas, Hermes Chief executive. During the introductory stage, the bag became famous because it was name after Jane Birkin as well as the fact that she would always walk around with it.  The growth stage is astonishing because they weren't able to keep up with the demand since the bag needs to be handmade one step at the time. Now the bag is in maturity stage as sales still increase at a decreasing rate because of the slow growth of our economy.