CTE2809 FINAL 1 20 Multiple Choices and 5 Short Answer Questions 30 points Ch 8 Consumer Research Brannon Consumer anthropology Ways to study shoppers and their buying behavior Done through comparing shopping experiences to pictures Rainforest department stores Military tank protection against manipulation in stores Videotaping consumers street fashions or looking in someone s closet Mall intercept research researchers ask shoppers initial questions about their gender age and income and if they match the target market they are asked their opinions on products and complete surveys Qualitative research The researcher listens to consumer talk or observes consumers in natural settings and reports findings as descriptions of consumer types or categories of behavior Quantitative research The researcher conducts surveys or experiments with a group of consumers the sample in hopes of understanding something about a larger group the population with similar characteristics and reports results in numerical data Showcase or laboratory stores Manufacturers open stores that are museums to the product and offer a change to present their entire line They are able to test out the product and see what consumers want Test store Specialty store chains are cleared out and reset with test merchandise without the consumer knowing Test merchandise group When a store plants test groups of merchandise with ordinary merchandise to see what sells depending on price and color or what is placed together Cheaper to do Style testing Pretesting styles with consumers by creating a prototype using CAD Computer aided design then submitting it to consumer testing for results These results determine whether or not to continue production of this product Ch 5 Consumers Industry Fashion Innovation and Diffusion Accelerators Kim Blogs Websites that contain ongoing commentary on products or topics contributed by a recognized or self proclaimed expert rather than by advertisers Today more consumers are looking to their peers rather than traditional advertising sources for product information and advice Co design Mass customization It permits the customer involvement in both the design process and the manufacturing process Nike or Converse letting you design your own shoes online Creative class The confident consumer who is very creative and has an increased value given to self expression individuality and creativity instead of conformity They have the desire and money to buy innovations and no longer depend on quality to differentiate between products Customer made movement Corporations creating goods services and experiences and then getting rewarded for it 1 CTE2809 FINAL 2 Competitions for new flavors colors flavor names or graphics for products and the winning one will appear Pluralistic aesthetic Where personal style is determined by the individual resulting in an array of simultaneously expressed styles accepted by the culture Helps drive innovation but also makes it hard for fashion forecasters because there is no single clear trend Rich media Website that enables creation and manipulation of product images to simulate actual experience Includes zoom features mix and match product features and more advanced rich media Style confident consumer Consumers who do not depend on an arbiter taste to dictate how they or their environments should look Virtual model Allows consumers to try product images on a virtual body form similar to his her own Makes consumers more likely to purchase Ch 10 Competitive Analysis Brannon Benchmarking Firms are chosen for comparison with the company s direct competitors Compare capital investment productivity and product quality A company compares with other firms considered best in terms of efficient operations Competitive advantage Competitive analysis The marketplace favors one company over another To keep this a company must anticipate the actions and reactions of a rival Outsmart their competition Exploit their weaknesses Avoid surprises Search for a better way to do the task Recognize when they can t compete Identify a new niche Competitive intelligence Using public sources to develop a detailed and accurate view of the market environment both trends in the industry and what the competition is likely to do Content analysis Extracting the significant data from the sources and classifying it by topic and reliability Direct competitors Sell the same general product to the same customers in the same distribution channels Indirect competitors Those that offer alternatives that may redirect a customer away from a purchasing situation Industrial espionage Occurs when someone breaks the law to collect data such as hacking into a company s computer stealing samples from a trade show or spying on operations Reverse engineering Purchasing and dismantling a product to determine how it was designed and constructed You do this to estimate the costs and evaluate the quality Secret shopper A person who appears to be just a customer but who is actually noting the operational details of a business 2 CTE2809 FINAL 3 Sensitization To build a sense of urgency in a company and to shake up a company s assumptions about its place in a relationship to competitors Shadow market planning To have one or more people in a company be familiar with a competitor that they can answer what if questions about the competitor strategy on a current and continuous basis Soft information A way to get competitive intelligence about another company through popular press television shows that may mention the company or product and industry rumors Ch 11 Presenting the forecast Brannon Directional trend the stage of trend development when fashion innovators and fashion forward retailers adopt the look style detail accessory or other fashion ideas and public awareness of the idea begins to build Embryonic trends the first stage of trend development when a look style detail or other fashion idea is poised to take off fashion insiders are tracking its development but the public is largely unaware of existence Information design Transforms data into valuable meaningful information by identifying and explaining the relationships and patterns between data Organizational structure for presentation Pro Con Cause effect Problem solution explain and consider costs Interaction design Designing interactivity and compelling experiences into the presentation to help the audience integrate and understand content Building knowledge requires