At the height of its popularity, the legendary maker of “Gangnam” pony dance has decided to stop performing this soon. On the new year’s eve, Psy declared the end of “Gangnam” style. No wonder, many of its fans would be shocked and surprised of this sudden death of “Gangnam”. But there is an important lesson from branding perspective on why this is the best decision ever made by any entertainment star.
In product life cycle concept, this sort of sudden hit of entertaining phenomenon can be defined as “Fad”. It comes quickly, only to be overshadowed by something else showing up somewhere else in the world later. Once you are at the peak, this is the point where you quickly fall down. Therefore, the only way to keep your popularity at peak is to come out with something new so that the popularity effect of “Gangnam” style can be imposed on the new style of performance. This is what Psy has implied to do! He is working on a new single, which, when comes out, will probably hit the youtube again and replace “Gangnam”. There is a great lesson for brand managers who deal with “Fad” phenomenon. Do not let your brand stay at peak for a long time. This is where the descent starts. Let your brand popularity be placed by a new Fad, by ending the life of your preceding phenomenon.