FASH 201 Chapter Notes - Chapter 2: Disposable And Discretionary Income, Mintel, Business Cycle

• School: Drexel University
• Department: Fashion Design
• Course: FASH 201
• Professor: Veronica Miller

Document Summary

A cardinal rule in an(cid:297) business is (cid:617)kno(cid:291) (cid:297)our customer(cid:618) Market segmentation b(cid:297) geographics, demographics, ps(cid:297)chographics, and. The degree of economic de(cid:290)elopment and (cid:291)ell-being of a countr(cid:297) or societ(cid:297) The sociological characteristics or the class structure. Market segmentation to turn into regular customers groups. Specific groups of potential customers that a business is attempting. Data is organized b(cid:297) region of the countr(cid:297), b(cid:297) count(cid:297) or cit(cid:297) size, b(cid:297) popular densit(cid:297), and b(cid:297) climate. Opulation studies that di(cid:290)ide broad groups of consumers into smaller, more homogeneous market segments. V(cid:296). age, gender, famil(cid:297) size, stages in famil(cid:297) life c(cid:297)cle, income, occupation, education, religion, race and ethnicit(cid:297) or nationalit(cid:297) Studies that de(cid:290)elop more e(cid:296)tensi(cid:290)e and personal portraits. S(cid:297)chographics of potential customers and their lifest(cid:297)les a product. Vals (cid:606)values-attitudes-lifest(cid:297)les(cid:607) (cid:554) s(cid:297)stem - sorts customers into eight major categories based on t(cid:291)o ke(cid:297) concepts for understanding consumer beha(cid:290)ior --- de(cid:290)eloped b(cid:297) arnold mitchell lu(cid:296)ur(cid:297) goods. but practical. Inno(cid:290)ators - leading change. highest income. 6ra(cid:290)itate to(cid:291)ard.