fashion industry chapter 3

4 Major Environmental Factors
Market Segmentation by geographics, demographics, psychographics & behavior

The degree of economic development & well-being of
a country or society

The sociological characteristics of the class structure

4. The psychological attitudes of consumers

Target Markets
Specific groups of potential customers that a business is attempting to turn into regular customers.

– Divided into 4 major segments

Geographics
In what type of climate does the consumer live?
Demographics
What is the educational, income, age, race or gender of the consumer?
Psychographics
How do social class and lifestyle affect the mind of the consumer?
Behavioral
Is the purchase about an occasion, benefit, status, or attitude?
Marketing Segmentation
Research firms combine geographic & demographic studies – page 51
Caritas
Produces the PRIZM system
Combines groups based on degree of urbanization & socioeconomic status
The VALS 2 (Values & Life Styles
System
groups consumers
based on
Primary Motivation & Resource
Fashion Demand depends on
A high level of economic development
Which is reflected in consumer income, population characteristics & technological advances
PERSONAL
income
Total income of a group
i.e., before taxes
DISPOSABLE
Take home pay.” Used to buy food, shelter, clothing & other necessities.
DISCRETIONARy
What remains for the consumer to
spend after taxes & necessities.
(Most Important Income for Fashion Demand)
The key sociological factors influencing fashion today
Leisure time
– Ethnic influences
– Status of women
– Social & physical mobility
– Instant communications
– Wars, disasters, & crisis

Leisure time & suburbs greatly influence the fashions
in today’s America

Beginning of 20th century Status of Women
Women could not vote
Rarely worked outside the home or attended college, & enjoyed little social freedom
As century progressed Status of Women
Advanced education became available to increasing numbers of women
Status of Women – Education
More than half of today’s college students are female

As women’s rights advanced throughout the 20th century, the marketing of fashion evolves…

Status of women Jobs & Money
Women have progressively achieved more social freedoms & entered areas that were formerly the sole domain of men.
Social Mobility
Many sociologists relate fashion change to changes in social mobility & the effort to associate with a higher class by imitation

The middle class tends to follow the upper class’s fashion choices
However, the size of the middle class has a great economic influence on fashion

Physical Mobility Driving
The great American pastime takes people all over the continent, exposing them to different lifestyles

This exposure creates the desire to emulate lifestyles
Which can be achieved through donning the clothing of different regions

Physical Mobility Vacation Travel
Formerly an entitlement of the wealthy, the middle class is now able to experience different cultures within the U.S. & internationally

The effect is similar to the automobile domestically, but with greater range & economic punch
Enhances the need for clothing that is easy to maintain & pack

Physical Mobility Moving
Americans move often & live in different parts of a vast country

Exposes people to different cultures, economies & weather patterns

Faster CommunicationsThe Internet
The InternetThe instantaneous medium with interactive capacity
You learn what others are wearing in distant parts of the globe at the speed of light

The medium shines as the newest marketing opportunity for the fashion industry.

Faster Communications Television
A ubiquitous media engine that propels ads at the consumer.

It informs us about fashion on a national and international scale.

Celebrities often act as spokespersons in “infomercials” (program length advertising on television)

The Psychological Environment
Boredom
The greatest ally of the fashion industry

Curiosity
Curious consumers like to experiment

“New”
Is often the quality that brings
the consumer to the shop

Reaction to convention comes in 2 forms –
Each new generation establishes independence by asserting values in opposition to the establishment.

Conversely, acceptance by the majority is an important part of the definition of fashion

Self Assurance
Fashionistas” have an armor that
gives them self-assurance

In a way, the fashion conscious are
secure knowing they are wearing the most current look

Those who know that their clothes are dated are at a psychological disadvantage

Companionship
All humans seek companionship

We all balance individuality with the need to belong.

People conform to the dress of certain groups in order to be accepted in that group.

“Uniforms”
Or conformity in dress
Put people in “tribes”, or certain groups
Tribes”
Create psychological comfort

People’s surroundings & desire for companionship can be the starting point for an outrageous fashion trend