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Fashion Concepts & Theory Week 9.docx

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FSN 221

Fashion as a Business and Cultural Industry Intro: Who they are, how they’re different from you, what themes you will be exploring. Use subheadings. Today: 1. What makes a fashion entrepreneur 2. Who is my customer 3. How do I cast models to benefit my brand? What is an entrepreneur? 1. Pays a certain price for a product to resell it at a higher price (interested in profit) 2. Sees am opportunity and creates an organization to peruse it 3. Tales responsibility for creating innovation within in an organization What makes an entrepreneur? 1. Personal attributes 2. Environmental factors 3. Sociological factors Darwinian Identity Communitarian Identity Missionary Identity Conceptual Shifts 1. Navigate creative-business tension 2. Redefine enterprise as collaborative 3. Expand ideas to accommodate taste of others Who is My Consumer? What is Market segmentation? - Process of subdividing a market into distinct subsets of customers that behave in the same way or have the same need Why Segment? 1. Focus on likely consumers 2. Effectively allocate resources 3. Develop suitable marketing Problems of Segmentation 1. Perspective of marketers 2. Approximation of reality 3. Leakages in market 4. Changes in consumption patter
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