notes

Lecture 

Consumer behaviour
-purchase, use , disposable, services , ideas or experience, satisfaction

Mallows hierarchy of needs
-self actualisation needs = desire
-esteem and status = achieve a high standing in relation to others
-social needs = social experience, desire products , services that facilitate social exchange
-safety needs = protections
-physiological needs = fundaments of survival

self esteem (riches 1993) - marketers use attractive models for a social comparison process where young female consumers compare themselves and feel inadequate against them.

Diverse and changing markets
-most fashion marketers try to attract several market segments at once
eg GAP, sells to woman, men and kids
-consumer buying habits don't remain the same. changes in economical or social conditions can affect

Segmenting the market = is a way of analysing a market by categorising their specific characteristics

- demographics - statistics that describe a population in terms of personal characteristics such as age, gender, income, ethical background, education, religion, lifestyle
-phychgraghics - studies of consumer based on social and psychological characteristics such as attitudes , interests and opinion
-geographics- stats about where people live
-behaviror - are stats about consumers based on their knowledge, attitudes, use or response to a products

marketers may look at the purchase occasion for a product, the product benefits sought by consumers, or usage level and commitment towards a product:
-purchase occasion = when product is used
-product benefits b= benefits, services (stain resistant)
-usage level and commitment = often used and loyalty
-geodemographic segmentation = where you live, financial means,, taste, preferences, lifestyle, nd consumption habits

Targeting
marketers evaluate each potential segment and decided upon which group consumers they will invest marketing resources
-selected groups are known as target markets
-how is technology making it easier for fashion firms to target potential consumers

Brand positioning statement
-the conceptual place you want to own in the targets consumers mind. the benefits you want them to think of when they think of your brand. an effective brand positioning strategy will maximise consumer relevancy and competitive distinctiveness, in maximising brand values
1-what does the brand community currently believe about or value in the barbs?
2-what might the brands community believe or value about the brand in the future?
3-what does the organisation currently claim about the brand?
4-what would the organisation like the brand to become down the road?


Positioning
-product differences
-service differences
-personel differentiations


Product life cycle
stage 1 = introduction
-new styles, colours, textures and fabrics introduced
-new styles, accepted by limited people (fashion leaders)
-promotional activities, fashion show, advertisement
-produced in small quantise at high prices
-retail buyers purchase limited numbers to see if style is accepted

stage 2 = growth
- consumer interest grows , fashion becomes more readily accepted by consumers
-mass production brings down price, more sales
-manufactured in less expensive materials and in lower quality construction than the original style
-promotional efforts are increased in high fashion to heighten consumer awareness
-retail buyers order items in quantity

stage 3 = maturity
-style at its highest of popularity
-demanded by almost everyone because it is now within the price range of most consumers and mass produced in many variations
-each retailer tries to persuade customers that is version of the style is the best

stage 4 = decline
- market is saturated and popularity decreases
-fashion is overused and dull and boring
-fashion decreases in popularity, retailers mark down their prices
-promotions centre around major clearance or closeout sales of the fashion

stage 5 = obsolescence
-style is rejected, is undesirable at any price, is no longer worn and is no longer produced
-ends as an accepted fashion