Chapter 4 - Pearson

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dia76827_ch04.qxd 11/29/04 7:55 PM Page 92 92 SECTION I Introduction to Fashion Retailing The Internet, with its wealth of free information, is also an invaluable research tool that will help small merchants better understand their consumer markets. By accessing such search engines as www.askjeeves.com, and entering such phrases as “consumer behavior,” they can access a host of Web sites that offer consumer studies and concepts. <strong>Chapter</strong> Highlights 1. Very often, purchasing behavior is based upon different motives. They are either rational, where such factors as price, care, practicality, and so forth are important, or emotional, where factors such as prestige and status come into play. 2. The patronage motive helps a consumer make the decision about where to shop. 3. Maslow’s Hierarchy of Needs is a theory that is based upon the order in which humans fulfill their needs. 4. The self-concept theory describes how the consumers perceive themselves. 5. Lifestyle profiling enables fashion retailers to take closer looks at their targeted markets. One of the major researchers in this field is SRIC-BI, a company that has been the pioneer in such studies with its widely used VALS system. 6. Demographics is the study of the population in terms of age groups, geographic concentration, occupations, and income. 7. The population of the United States is categorized into social classes. Each represents a portion of the population and suggests how those in the various groups are likely to spend their discretionary income. 8. The family life cycle offers retailers information regarding how people in the same group are likely to shop for fashion merchandise. The segments range from childless singles under age forty-five to the empty nesters, with a host of other classifications in between. 9. Many major companies undertake their own research to study how their potential customers are likely to react to their merchandise offerings. 10. Small fashion retailers, while unable to enter into their own research because of the often prohibitive costs involved, can turn to the Internet and avail themselves of a great deal of material on consumer behavior. Terms of the Trade rational motives emotional motives patronage motives Maslow’s Hierarchy of Needs decision making self-concept theory real self ideal self other self ideal other psychographic segmentation lifestyle profiling demographics baby boomers generation X generation Y Casual Friday discretionary income social class family life cycle multiple-member/shared households
dia76827_ch04.qxd 11/29/04 7:55 PM Page 93 CHAPTER 4 The Fashion Consumer: Identification and Analysis 93 empty nesters mature boomers mid-boomers young boomers mature busters young busters mature boomlets For Discussion 1. In what way do rational motives differ from emotional motives? 2. Why are patronage motives important for fashion retailers to consider? 3. In Maslow’s Hierarchy of Needs, at what stage does the fashion retailer begin to surface as fulfilling a need? 4. According to the self-concept theory, at what step does the individual want to make a better impression. 5. What does the VALS system try to predict for retailers, and how does it go about doing it? 6. Define the term demographics, and tell how their study enables retailers to more carefully approach their potential consumer markets. 7. Which demographic age segment is most likely to be attracted to trendy, fashion merchandise? 8. For what situations might the elderly still require the purchase of fashion apparel and accessories? 9. How does the upper-upper class differ from the lower-upper class in terms of purchases? 10. Describe the upper-middle class in regard to its fashion purchases. 11. Why do childless singles under 45 represent an excellent market for fashion merchandise? 12. How are some of the households composed in the multiple-member/shared household family life cycle? 13. Do the family life cycle segments remain constant? Explain. 14. Why do some companies, such as Dupont, conduct their own consumer research projects? 15. How do the youngsters in the mature boomlet stage influence fashion purchasing? CASE PROBLEM 1 Five years ago, Sue Gallop and Muriel Litt entered into a partnership agreement for the purpose of purchasing a small, established specialty boutique.The store, located in an affluent midwestern suburb, had been owned and operated for eight years by Margie Paxton. Its success was immediate, and Margie enjoyed the rewards of her business for all of the years that she owned it. Her concept was to offer high-fashion, quality merchandise with an equal amount of designer clothing and custom-made models. Her clientele, initially drawn from friends and acquaintances, ultimately expanded to make hers one of the area’s most distinguished boutiques. When Sue and Muriel purchased the store from Margie, they put some of their own touches on the business, and the venture became more successful than when they bought it. Couturier designs from around the world were added to the merchandise mix, and these items became an important part of the store’s collection. As the sales volume began to grow, so did the two partners’ desire for expansion.They thought of adding a wing to their existing location but scrapped the idea, feeling it would take away from the intimacy that helped make the store such a winner.The other choice was to open another unit. After a great deal of searching, they came upon a location that seemed perfect. It was situated fifty miles from their first shop on a busy main street in a community that resembled their other location. The size of the vacant store was appropriate for their needs, as was the rent. A drive through the surrounding area drew their attention to the same types of houses that were in their first trading area.Their immediate response was that this was an ideal situation for a new venture.
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Chapter 4 - Pearson

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