Retail Management Question

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First Assignment

TREND ANALYSIS & STYLING CONCEPTS
ASSIGNMENT #1
CONSUMER & LIFESTYLE SEGMENT (50 POINTS POSSIBLE)

*Lifestyle research attempts to understand the changing social order. The framework for such studies is Attitudes, Interests, and Opinions (AIO). (Please refer to Chapter 11 pg. 230 in our book for more on this analysis)

*Fashion industry professionals are always looking at the world around them in terms of how any shift in culture and society will impact their target market’s future preferences. We discussed Market Segments in today’s society in class.

FOR THIS ASSIGNMENT:

You will work in a group. This group will work together in assignments all quarter. I will be setting groups during the first week, once attendance has been taken.

Pick a target Consumer Segment to analyze. What will you call them? Identify age range, & demographic/psychographic makeup of this Segment.

  1. Forecasting Specialties: What are some sources you could use to conduct a fashion and consumer scan that is relevant to this target market segment? What social trends might impact this target market’s purchase habits? Please explain your findings. (reference pages (16-17)
  2. Zeitgeist: Discuss current zeitgeist influences that are having an impact on your Segment’s mindset & behavior. (social trends, political, economic climate…)
  3. Discuss the Generational Cohort your chosen segment is a part of ( Chapter 11, pages 225-227), and relate this information to your zeitgeist points.

To present this information, create a Power Point presentation to explain your research & introduce your Market Segment, You may use more than one slide for the required criteria. Slides should have a balance of text (via bullet points) to visuals. Additionally, create this presentation using the ‘power point notes’ tool, and upload it including this information. This allows me to read key comments you make that clarify your slides more completely.

  • Cover Page: Assignment #1, Consumer & Lifestyle Segment, Name
  • Slides 1&2: Introduce your Consumer Segment. Include all criteria from #1 above. Include a picture collage of your segment to enhance understanding of who they are.
  • Slides 3&4: Discuss Forecasting Specialties (#1 above)
  • Slides 5&6: Show your understanding of the Zeitgeist influences on your Segment (#2 above)
  • Slides 7&8: Discuss your Segment via Generational Cohort (#3 above)

Second ASSIGNMENT

Based on your module 1 homework assignment, please share the following to Discussion Board this week:

  1. Your chosen Consumer/Lifestyle Segment
  2. A brief description of this consumer
  3. A photo of your Consumer Segment

 

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