FM 114 Lecture Notes - Lecture 1: Ray-Ban, Birthstone, Terrycloth
Document Summary
Fashion: a type of style society follows at a certain point in time. Silhouette: 7 silhouettes, 3 groups (chp. 2) outline/contour of costume. Knock-off: a cheap replica of a pricier product. not legal in france, but legal in america. Marketing: plan to promote, plan, distribute and price products effectively so they"ll sell easily. The separating of the total consumer market into smaller groups. Four major environmental factors that affect fashion interest and demand: behavior. Market segmentation by demographics, geographics, psychographics, and. The degree of economic development and well-being of a society/country. Purchasing power of the dollar: it has decreased over the years. one dollar is worth 46. Strategic business insights" 3 primary motivations that drive consumers" buying mandatory charges, and expenditure on necessary items. decisions: Personal income: gross income received by pop. as a whole. Per capita personal income: result of dividing personal income by the number of people.