Chapter 5 - pp notes.docx

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Department
Fashion Design and Merchandising
Course
FASH 290
Professor
Videtic
Semester
Summer

Description
Chapter 5 Mass Market: • Mass produced • Low to high priced • Fashion followers • Positioned on “value” • Rational vs. emotional • Price, convenience & functionality  Price • “more for less”, markdowns are taken, bargain shopping, repricing or markdowns  Location • Central, downtown, malls, “traffic”, strong on-line presence • Demographics is important to location within mall  Service • Varies with segment but service is limited • Competitive strategy  Identity • Visual: (logo)greater variation than luxury (ie heritage is unimportant) and lots of made up names ie. Massimo Dutti • Less emotional but aspirational often • Examples? (don’t go premium brands)  Personality • Usually build around friendliness, warmth, excitement, cool, young, outgoing, contemporary, competence  Communications • Focus of message and content varies from luxury • Compete on basis of functionality, product features, lifestyle, convenience, markdowns/price & special promotions.  Growth Strategies: • Brand extensions: Gap to BR • Licensing: most fragrances • Franchising: Berg Press • Rely on overseas production to maintain price. • Knock offs • Cost/price/size/style differ globally • More culturally based (flipflops) Premium Brands: • Aspirational or new luxe: think Coach • Not built on exclusivity but still emotional • Better quality (not artisan), functionality but still product driven • Follow luxury lead with regard to innovative • Business strategy that requires great customer knowledge and consumer behavior/motivation. • Think product development • Culprit in the “democratization of luxury”.  Customer: (rational and emotional) – Discretionary income but thrifty Chapter 5 – 2 family income
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