FSN 132 Chapter Notes - Chapter 2: Psychographic, Business Cycle, Disposable And Discretionary Income
8 Apr 2013
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Document Summary
How research is used by fashion producers and retailers to help them with market segmentation. The five basic psychological factors that motivate human behavior and how each affects fashion. Demographics: studies that divide broad groups of consumers into smaller, more homogeneous target segments, the variables include population distribution, age, sex, family life cycle, race, religion, nationality, education, occupation and income. Discretionary income: the money that an individual or family has to spend or save after buying necessities such as food, clothing, shelter and basic transportation. Disposable personal income: the amount of money a person has left to spend or save after paying taxes. It is roughly equivalent to what an employee calls take-home pay and provides an approximation of the purchasing power of each consumer during any given year. Environment: the conditions under which we live that affect our lives and influence our actions. Geographics: population studies that focus on where people live.
