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Chapter 2

FSN 132 Chapter Notes - Chapter 2: Disposable And Discretionary Income, Behaviorism, Psychographic

Course Code
FSN 132
Luann Lafrenz

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CHAPTER 2: The Environment of Fashion
Market Segmentation
-Target Market: specific groups of potential customers that a business is
attempting to turn into regular customers
-Geographics: population studies that focus on where people live
-Demographics: population studies that divide broad groups of consumers into
smaller, market segments (i.e. age, gender, family size, income, occupation, etc)
-Psychographics: studies that develop more extensive and personal portraits of
potential customers and their lifestyles
-Behaviour: includes opinions, preferences, and basic behavioristic of customers
The Economic Environment
-personal income: total or gross income received by population as whole including
wages, salaries, interest, dividends
-discretionary income: money that can be spend after buying necessities
-purchasing power: what it will buy
-decline is caused by inflation
The Sociological Environment
-leisure time (i.e. sports, activewear, travels)
- ethnic influences
-Status of Women
-social mobility: movement of social hierarchy
-physical mobility (i.e. travel)
-faster communications and travel of news on fashion now that internet exists
-war, disaster or crises
The Psychological Environment
-boredom: becoming bored of a certain style and wanting change
-curiosity: interest in change
-reaction to convention (i.e. rebellion)
-need for self-assurance: need for confidence and self-assurance
-desire for companionship: fashion influences formation of groups and acceptance
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