AM 101 Lecture Notes - Lecture 4: Horse Harness, Landed Gentry, Market Segmentation

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4 major environmental factors affecting fashion interest and demand: market segmentation. Society: sociological characteristics of class structure, psychological attitudes of consumers. The ve p"s of merchandising: product, price, people, place, promotion. Market segmentation: target market- speci c group of potential customers, who"s your customer, what do they want, what are they willing to pay, manufacturers- national trends. Week 2 day 1: retailers- local statistics. Quality, con nement/commitment of product: doesn"t spend on advertisement, artist focuses on hand-crafting. Started as a a hand-crafting horse harness for carriages. Came and bought the zipper from henry ford. Increased their business stock by 61% since 2015. Week 2 day 1: country or city, climate, discretionary income. Demographics: age- generational cohorts, sex, family/ stages of family cycle, income/ household, occupation- purpose of dress, education, religion, race-ethnicity- nationality. Psychographics: predict consumer purchase patterns, distinguish user of a product, social class, values, lifestyle- leisure activities, personality, preferences- i. e. environmentally friendly.

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