I. Explanation on Fashionistas and Planners & Shoppers Strategy The successful cable TV network “The Fashion Channel” founded in 1996 is now being faced with an intensely fast growing competitive environment. In order to strengthen the company’s brand with viewers and advertisers TFC should position their new marketing strategy towards Fashionistas and Planners & Shoppers. By focusing on dual segmentation, this scenario positions itself in a specific demographic of females that can offer great benefits. The opportunity TFC can expect includes increasing their average ratings, along with increases in their average CPM, and an approximate 40% increase in their margins. According to Exhibit 3, 50% of US Television Households are made up of the segment of Fashionistas and Planners & Shoppers. Females between the ages of 18-34 make up 50% of Fashionistas and 25% of Planners & Shoppers. Throughout history fashion has been viewed as a type of luxury that more recently is being harnessed by women of the millennial generation in this age demographic. Based on the data provided in the case, focusing on this scenario produces an increase of almost $115 million in net profit in comparison to the base numbers shown in 2007. Although TFC has never implemented a program like …show more content…
As a market is penetrated with more competitors, it makes it easier for consumers to jump from one to the other. When it comes to cable television, service providers have made it so accessible for customers to pick and play the channels they want. As The Fashion Channel ensures the loyal customers they have earned that the channels they love will continue, it gives them a sense of importance. TFC can differentiate themselves by performing market research and development to understand females in the millennial generation and their viewing
Berry, Hannah. “The Fashion Industry: Free to Be an Individual.” The Norton Field Guide to
According to the segmentation in the case Tweeter is a Specialty Store and its most important customers are the Quality/Service Customer (Appendix 3). This group accounts for 70% of Tweeter's clientele. This segment cares about high quali...
It is interesting to consider Veblen’s theory of conspicuous consumption as it pertains to the modern day fashion industry, specifically the luxury fashion sector. In The Theory of the Leisure Class, Veblen said “we all find a costly hand-wrought articles of apparel much preferable to a less expensive imitation of it;” however, at the beginning of the 20th century, couture clothing was exclusively available to those who were very wealthy, simply because of how much the garments cost. By the mid-1930’s, businesses were beginning to change their ways of thinking after seeing the enormous profit that the Walt Disney Company received once they licensed the making of Mickey Mouse novelty items. Christian Dior was the first of many fashion designers to foll...
In ninety minutes, Andrew Morgan’s documentary, The True Cost, shows the story of the clothes we wear today, the people who make these clothes, and the impact it’s having on the world. The link between the people making the clothes and the consumers who are buying it, is investigated to show the truth behind the fashion industry’s low-costs. The goal of this film is to get people to change the way they think about the things they wear.
...for Parents." Media and Clothing Market Influence on Adolescent Girls: Warnings for Parents. Ed. Sarah Coyne and Stephen F. Duncan. Forever Families, n.d. Web. 05 Apr. 2014. .
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
We identified our target market as Jessica Smith. She is married with two children and lives in a rural suburb outside of the city. Jessica graduated from Iowa State University with a degree in graphic design. She is currently an art director in Minneapolis, MN and makes approximately $70,000. As a creative person, Jessica is constantly looking for a way to express her personality through clothing. She lives a high-style life and prefers authentic animal skin in apparel products. For this reason, she is willing to spend more for a higher quality product. Her personality plays a pivotal role in her fashion. Being an art director, she must take risks. This is also seen in her clothing. She has a modernistic style, but likes small accents and
Increased Visibility of a particular brand on the shelf increases their success rate. Therefore many of the major stores are promoting their own brands by giving them a larger shelf space which is bigger then their market share. This reduces the visibility of other branded products at the same time.
The fashion industry is still exceptionally fast growing and fast changing, which dictates news ideas and trends at an astounding rate. Product perception as ‘fashionable’ loses it value very soon. One day’s desired luxury item can become unwanted by the next. To update new trends, changes and fashion designs successful communication is essential (Moore, 2012: 9). To maintain good face-to-face relationship with the customer communication throughout all channels is highly important (Carr, 2013:5)
Fast fashion is getting faster and cheaper, but who bares the cost for the rising demand for this type of clothing? Most of the time, the effects are felt in the countries where the brands are not even sold and where they are produced. Consumerism has a lot to do with the success of stores like Uniqlo, Forever 21 and Primark. These types of stores are making fashion accessible to all, and thus trends are becoming more and more short-lived, making people always wanting newer and cheaper items. Inditex, Zara’s parent company, grew its number of store from 500 in 1995 to more than 2500 in 2015. Hennes & Mauritz (H&M) had fewer than 400 stores in 1995, and now has over 3500 (The Economist, 2014). Most of these brand’s clothing items are so inexpensive
“What do you call a consumer who wants to buy everything you have, doesn 't care what it costs and is less than five feet tall? A marketer 's dream? Nope. You call them kids.” (AdRelevance Intelligence Report, 2000). Nowadays, children (age 4-12) already have a sense of fashion and attitudes that we may not see in children back in 1980s-1990s. Based on the “Consuming Kids” (2008) and our daily experience we can see and learned that children tends to follows or try to imitate what they see, it can be from television, magazine, school, and sometimes what they see in the real life. In “Consuming Kids” documentary we learned that the total of money that children spend in a year is about $40 billion and the influence of the kids to adult spending
Gardner, Marilyn. "Fast Fashion Is a Problem." The Fashion Industry. Ed. Roman Espejo. Detroit: Greenhaven Press, 2010. Opposing Viewpoints. Rpt. from "Fashion Industry Gives Rise to a 'Disposable Culture, '." The Christian Science Monitor. 2007. Opposing Viewpoints in Context. Web. 22 Nov.
in this segment are often brand conscious and enjoy the latest fads and trends. They...
Designer handbags are both envied and enjoyed by women across the country. With prices ranging from a few hundred dollars to well over $15,000, handbags can be seen as a representation of wealth and social status. In 2014, handbag sales amounted to approximately 9.2 billion dollars, 30% of all revenue generated by women’s accessories (Statista). As sales increase, industry leaders, such as Louis Vuitton, Coach, and Dior, must ensure their marketing strategies attract consumers to their brand and handbag styles. Louis Vuitton, Coach, and Dior’s advertisements portray the need for prominence, autonomy, and aesthetic sensations to depict a luxurious lifestyle.
While growing up, I realized the benefits a person has when they personally own their own business. You can make your own schedule, personally control your finances, and essentially have complete control of your business Of course upon this realization; I came to the conclusion that I was going to be my own boss. I have always taken pride in how I present myself including how I dress. The limitless nature of fashion and its versatility has always intrigued me. One empowering aspect of clothing that is so fascinating is how it enables people to express themselves. Because of these interests, I have come to the conclusion that I wish to own a fashion boutique. In order to pursuit the path of becoming a fashion boutique owner, it is essential that I obtain a degree in business management, evaluate my own skills that make me ideal for the job, and