From: businessdictionary.com
Factors Influencing the Buying Decision Process
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Family Influences Buying Decisions Purchases are for entire family to use Whole family participates in decision making process Retailers work to satisfy needs of all family members 4-3
Š Digital Vision
Culture Culture is the meaning, beliefs, morals and values shared by most members of a society Western culture: individualism Eastern culture: collectivism
Subcultures are distinctive groups of people within a culture
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Reference Groups
A reference group is one or more people whom a person uses as a basis of comparison for beliefs, feelings and behaviors.
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Reference groups affect buying decisions by: • Offering information • Providing rewards for specific purchasing behaviors • Enhancing a consumer’s self-image
Methods for Segmenting Retail Markets
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VALS2 American Lifestyle Segments
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What is Fashion?
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The McGraw-Hill Companies, Inc./Lars A. Niki, photographer
A type of product or way of behaving that is temporarily adopted by a large number of consumers because it is viewed as socially acceptable.
(c) Digital Vision/PunchStock
Why Consumers Buy Fashions Communicate with Others Manage Appearance Express Self-Image Enhance Ego Impress Others McGraw-Hill Companies, Inc./Gary He, photographer
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Stages in the Fashion Life Cycle
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Theories of Fashion Diffusion Trickle Down Theory: Fashion leaders are consumers with the highest social status – wealthy, well-educated consumers. After they adopt a fashion, the fashion trickles down to consumers of lower classes
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Theories of Fashion Diffusion
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Mass Market Theory: This theory suggests that fashions spread across social classes and that each social class has its own fashion leaders who play a key role in their own social networks
Theories of Fashion Diffusion
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© Digital Vision
Subculture Theory: This theory is based on the development of recent fashions. These fashions start with people from lower-income groups and “trickled up” to mainstream consumer classes.
Saturation to Decline When fashion reaches saturation, it becomes less appealing to consumers. It no longer provides an opportunity for people to express their individuality. Royalty-Free/CORBIS
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