February 10, 2008

In class this week we have been talking about Non-Price decisions and how that influences how well a store or company does in terms of staying in business for longer and making more money. I totally agree that non-price decisions are important to the consumer. These decisions such as store positioning, creating a strong brand identity and providing private label merchandise, are important for providing an important experience to the customers. As a consumer, myself, I tend to shop at stores that give me a certain feeling, more than just purely for product.
At Victoria's Secret, they have the annual fashion shows that are a huge production on CBS. Those fashion shows set the mood and make way for the new fashions that are soon to be arriving in stores. Victoria's Secret creates a stong brand identity that makes the consumers feel that if they purchase some items from the store, then they will also be as beautiful, and sexy as the models wearing the same products in the catalogs and the stores. From the entire store covered in many girls' favorite color, pink, to the luxurious fabric on the seats in the dressing rooms, to the pretty displays, they create an identity, more than just promoting the plain product. This store, in particular, creates a strong brand identity which, in turn, leaves the customers wanting to feel that particular way and so they buy more of the products.

2/3/08

In-depth Customer Profile: Hollister Co.>>At HCO there are 2 main groups of customers. One is middle-class teenagers and pre-teens buying a new t-shirt with thier allowance money, while they are out with their friends. Another is the parents of these teenagers(the baby boomers) buying thier kids new clothes to add to their wardrobes.

Generational Cohorts:>>

• Silver Surfers: 1925-1945>> Most of these people are too old to shop very much. I think the younger ones go to Chico's, Talbotts, or Belks/Macys.
• Baby Boomers: 1946-1964>> They like to shop at anywhere cheap. They love Wa-mart Target, and any discount store.
• Gen X: 1965-1977>> They wear 90's stuff like it is still in style, and are sometimes confused about what is "in" currently. They like to shop at stores that have stuff that is too young for them. Maybe like Express and the Limited.
• Gen Y: 1978-1994>>This is my generation. We like to shop at places where we can get good deals on stuff that is still very fashionable. We like Target, A&F, HCO, Urban Outfitters, and American Eagle.
• Gen Z: 1995-today>>This generation wants the newest and coolest electronics available. They all are growing up too fast, for example 13-yr.olds wearing slutty clothes and 3rd/4th graders wearing bras and having cell phones already. They will probably want stuff with lots of pockets for all of their gadgets and the newest styles.

Generation Y: They watch lots of reality TV, and experienced Y2K, and 9/11 were some major events in their lives so far. They have experienced a trend of new technology which may influence them as consumers.

Some Social Trends:>>Retailers have not yet identified the concern for plus size clothing that fits and looks good and a line that caters to the Latinos/Hispanics. I personally see a need for more jeans options for skinny young women who have muscular legs and a smaller behind.