FSN 221 Lecture Notes - Postmodernity, Mass Customization, Baby Boomers

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Published on 21 Apr 2013
School
Ryerson University
Department
Fashion
Course
FSN 221
Professor
Page:
of 3
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 patterns
Demographics Who Buys
Demographic & Why?
Age (Young >older)
Sex (Women 2x Men)
Household income (Higher $ > fashion)
Family size/life cycle (spending priorities)
Occupation (relates to style)
Ethnicity/culture (More traditional/conservative dress)
The Age Fashion Challenge
Why Age Matters Conditions of Postmodernity
1. Destabilization of normative life course
2. Consumption of identities
3. The anxiety of consumer culture
Baby Boomers Late 40s Early 60s
- Spend a lot
- Account for more than half of fashion spending
The Gray Market
- Loves fashion
- Ignored by the fashion industry
Body, Shape, and Size
- Generally for 99% of fashion brands, size is not a part of their segmenation stragety
Mass Customization Target Market Sizing
Psychographics Why They Buy
Lifestyle (Importance of fashion in life)
Values (How people like to spend their money)
Personality (Likelihood of following fashion trends)
Body Image
- A person’s thoughts and feelings of the aesthetics and attractiveness of her/his own body
The Product of Messages from…
1. Other people
2. Networks
3. Systems
4. Psychiatric disturbances
5. Culture
Internalizing the Beauty Ideal
Body Image and Size Fashion Buying
Fashion Consumption (Body Image & Body Shape)

Document Summary

Who they are, how they"re different from you, what themes you will be exploring. What makes an entrepreneur: personal attributes, environmental factors, sociological factors. Conceptual shifts: navigate creative-business tension, redefine enterprise as collaborative, expand ideas to accommodate taste of others. Process of subdividing a market into distinct subsets of customers that behave in the same way or have the same need. Why segment: focus on likely consumers, effectively allocate resources, develop suitable marketing. Problems of segmentation: perspective of marketers, approximation of reality, leakages in market, changes in consumption patterns. Why age matters conditions of postmodernity: destabilization of normative life course, consumption of identities, the anxiety of consumer culture. Baby boomers late 40s early 60s. Account for more than half of fashion spending. Generally for 99% of fashion brands, size is not a part of their segmenation stragety. Values (how people like to spend their money) A person"s thoughts and feelings of the aesthetics and attractiveness of her/his own body.