Assignment 2 Factors Affecting Market
Assignment 2: Factors Affecting Marketing Strategy BUS 510 – Consumer Behavior
February 23, 2014
Factors Affecting Marketing Strategy
While at a local women’s retail store, came across an interesting leather necklace that caught my attention. As I moved closer to view the item, I was sure the accessory belonged to one of the popular designers and was quite expensive. Once I reached the shelf were the item was display; I saw the designer name “Heaven’s Creations”; an unknown product designer. The necklace was quite a show stopper, extraordinary looking and not to mention affordable. The off-brand’ designer’s line is unique because the pieces are all “one of a kind”--no replicas However, I was informed that the designer does design commission jewelry. I most say that if all future accessory ornaments of the unknown designer’s are as exquisite and show stopping as this leather necklace, the designer will not be off-brand for long. Jewelry, Apparel and Accessories products fall into the category of high involvement/emotions. These are products for which the buyer is prepared to spend considerable time and effort in searching. When marketing this jewelry line, I am going mimic existing campaigns as jewelry is a billion-dollar industry employing millions of people around the world, and costume jewelry has a large piece of this pie. Ever since the economy became more global, consumers have been affected by this fast evolving industry. Towards the late 1980’s, several large retailers dominated the fashion accessory business. In the fast evolving fashion industry even the best plans and activities can be diluted by economic change, consumer behavior and the actions of competitors.
Market Segment and Affecting Factors
Even as costume jewelry saw increasing growth, the fashion accessories market has grown by around 40% between 2001 and 2010 and shows no signs of slowing. This boost has been contributed to higher levels of employment and
February 23, 2014
Factors Affecting Marketing Strategy
While at a local women’s retail store, came across an interesting leather necklace that caught my attention. As I moved closer to view the item, I was sure the accessory belonged to one of the popular designers and was quite expensive. Once I reached the shelf were the item was display; I saw the designer name “Heaven’s Creations”; an unknown product designer. The necklace was quite a show stopper, extraordinary looking and not to mention affordable. The off-brand’ designer’s line is unique because the pieces are all “one of a kind”--no replicas However, I was informed that the designer does design commission jewelry. I most say that if all future accessory ornaments of the unknown designer’s are as exquisite and show stopping as this leather necklace, the designer will not be off-brand for long. Jewelry, Apparel and Accessories products fall into the category of high involvement/emotions. These are products for which the buyer is prepared to spend considerable time and effort in searching. When marketing this jewelry line, I am going mimic existing campaigns as jewelry is a billion-dollar industry employing millions of people around the world, and costume jewelry has a large piece of this pie. Ever since the economy became more global, consumers have been affected by this fast evolving industry. Towards the late 1980’s, several large retailers dominated the fashion accessory business. In the fast evolving fashion industry even the best plans and activities can be diluted by economic change, consumer behavior and the actions of competitors.
Market Segment and Affecting Factors
Even as costume jewelry saw increasing growth, the fashion accessories market has grown by around 40% between 2001 and 2010 and shows no signs of slowing. This boost has been contributed to higher levels of employment and