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2007 Fairchild Publications, Inc. The Environment of Fashion. The four major environmental factors that affect fashion interest and demand:. Market Segmentation by geographics, demographics, psychographics, and behavior
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The Environment of Fashion The four major environmental factors that affect fashion interest and demand: • Market Segmentation by geographics, demographics, psychographics, and behavior • The degree of economic development and well-being of a country or society • The sociological characteristics of the class structure • The psychological attitudes of consume 2007 Fairchild Publications, Inc.
Geographics: In what type of climate does the consumer live? Marketing Segmentation Target Marketsare specific groups of potential customers that a business is attempting to turn into regular customers. These markets are divided into four major segments. • 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? 2007 Fairchild Publications, Inc.
The Economic Environment Fashion demand depends on a high level of economic development, which is reflected in consumer income, population characterisitics, and technological advances. 2007 Fairchild Publications, Inc.
PERSONAL = Total income of a group, i.e., before taxes. The Economic Environment Consumer Income DISPOSABLE = “Take home pay.” Used to buy food, shelter, clothing and other necessities. DISCRETIONARY = What remains for the consumer to spend after taxes and necessities. Most Important Income for Fashion Demand 2007 Fairchild Publications, Inc.
106 million 274million 350million Population: United States The U.S. population has increased dramatically and will continue to grow. 1920 2000 2025 (estimated) • “BABY BOOMERS” are an aging population with income. • Conversely, education and different lifestyles form a large “YOUTH MARKET”. 2007 Fairchild Publications, Inc.
The Sociological Factors • The key sociological factors influencing fashion today are leisure time, ethnic influences, status of women, social and physical mobility, instant communications, wars, disasters, and crises. • Leisure time and suburbs greatly influence the fashions in today’s America. 2007 Fairchild Publications, Inc.
U.S. Population Percents by Ethnicity 2007 Fairchild Publications, Inc.
Status of Women • At the beginning of the 20th century, women could not vote, rarely worked outside the home or attended college, and enjoyed little social freedom. • As the century progressed, advanced education became available to increasing numbers of women. • More than half of today’s college students are female. • As women’s rights advanced throughout the 20th century, the marketing of fashion evolves… 2007 Fairchild Publications, Inc.
Status of Women • Women have progressively achieved more social freedoms and entered areas formerly the sole domain of men. Work • This affects fashion from planning to production through retailing. 2007 Fairchild Publications, Inc.
Social Mobility • Many sociologists relate fashion change to changes in social mobility and 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. 2007 Fairchild Publications, Inc.
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. 2007 Fairchild Publications, Inc.
Physical Mobility Vacation Travel • Formerly an entitlement of the wealthy, decreasing airfares and enhanced flights allow the middle class to experience different cultures within the U.S. and internationally. • The effect is similar to the automobile domestically, but with greater range and economic punch. It also enhances the need for clothing that is easy to maintain and pack. 2007 Fairchild Publications, Inc.
Physical Mobility Moving • Americans move often and live in different parts of a vast country. • This exposes people to different cultures, economies and weather patterns. 2007 Fairchild Publications, Inc.
Faster Communications The Internet • The instantaneous medium with interactive capacity. You can 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. 2007 Fairchild Publications, Inc.
Faster Communications Television • A ubiquitous media engine which 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). 2007 Fairchild Publications, Inc.
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. 2007 Fairchild Publications, Inc.
Psychological Reaction to convention comes in two 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. 2007 Fairchild Publications, Inc.
Psychological 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 their clothes are dated are at a psychological disadvantage. 2007 Fairchild Publications, Inc.
Psychological • Companionship…all humans seek companionship. • “Uniforms”, or conformity in dress, put people in “tribes”, or certain groups. • “Tribes” create psychological comfort. • 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. 2007 Fairchild Publications, Inc.