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    Research on popularity of branded apparels Research on popularity of branded apparels Document Transcript

    • I2IT – IGNOU CENTER OF EXCELLENCE FOR ADVANCED EDUCATION & RESEARCH “Popularity of Branded Apparels” –Appeal to the Youth & Loyalty towards itSubmitted to: Submitted by:Prof. Saumya Misra Vijayalakshmi Shankar ITM-July ‘09Submitted on: ITM10534414006.06.2011
    • TABLE OF CONTENTSS.NO CHAPTER PAGE NO 1 Abstract 3 2 Introduction 4 3 Review of Literature 6 4 Objectives of the Study 10 5 Research Methodology 11 6 Data Analysis 6.1 I. Charts 13 6.2 II. Findings 20 6.3 III. Statistical Techniques a) Correlation 22 b) Mode 23 c) Mean 24 d) Student t-test 26 7 Conclusion 28 8 Recommendations 29 9 Bibliography 30 10 Annexure 31 Page 2
    • ABSTRACTThis study explores the popularity of branded apparels and aims to find out if youth are attractedtowards branded apparels or if they prefer non branded apparels. It also explores into theinfluential factors that lead to the purchase of a particular brand namely; Brand Name, ProductQuality, Design, Store Environment, Price and Promotion. This study also tests if there is anysignificant difference between the degree of brand preference and the level of agreement with thesocial status that brands depict. From this survey the most popular brand among the youth isdetermined and it is Levis which mostly preferred by youth. It was also found out that brands arestatus symbols and care must be taken to maintain the image of the brand and the most importantinfluential factors that lead to not only the purchase of a brand but also loyalty towards areProduct Quality & Design. Hence companies must improve their quality and product design &variety continuously. It is recommended that companies should not invest heavily on celebritiesas it has been determined that most of the population is not motivated to buy branded apparelsbecause it is promoted by stardom presence. A sample of 50 was examined and data wascollected through questionnaires administered to people between the ages 17 and 27. Page 3
    • INTRODUCTION“Consumers are evolving entities. Their aspirations & expectations are continuously changing.Today’s shoppers are more intelligent, discerning & tuned to their individual preference. Theyare increasingly fashion and brand conscious and select labels which define who they are orwho they want to be. The biggest challenge for all the brands is to create loyal consumer wholove them.” – Shopper’s Stop LtdIndia represents an economic opportunity on a massive scale, both as a global base and as adomestic market. Indian consumer markets are changing fast, with rapid growth in disposableincomes, the development of modern urban lifestyles, and the emergence of the kind of trend-conscious consumers that India has not seen in the pastApparel industry is in its growth stage. With the proliferation of western culture, more brands areadded to the Indian market. Larger budget is allocated to sales promotion activities that lure theconsumers. In such a scenario, it is very essential to study how consumers make their choices incategory where there are several brands in the consideration set of a consumer. There is a trendfor a high number of consumers in the apparel industry to switch from one brand to another dueto sales promotion offers and personal comfort zone. Hence it would of interest to a marketer tolearn about the consumer preferences with respect to sales promotion offer; what schemes doconsumer prefer for what kind of brands, which media do they prefer to know about the brand,product, and related schemes, who prefers the branded apparel and fashion products, the pricerange of the fashion products. These are the questions which consumer considers while choosinga brand.Brands build customer loyalty by delivering excellent value no matter the price point-high, low,or medium. Value includes styling, durability, quality fabrics, and consistent fit. To theconsumer, a brand name represents familiarity, consistency, and confidence in performance.Brand names when linked with lifestyle, self-expression, and aspirations epitomize intangiblesthat are desirable to the consumer. Page 4
    • Today’s global apparel environment is tougher than ever for brands. There are many reasons forthe emergence of this challenging climate; • Proliferation of brands • Smarter consumers • Ever changing fashion • Increasing competitionThis research aims at understanding the appeal of youth towards branded apparels and the factorsthat lead to the purchase of these branded apparels. It also explores into the dimensions of brandloyalty and determines which categories of the consumers are loyal to the brands that theypurchase and the reason behind the ardent brand loyalty. This study focuses on people living incosmopolitan & metropolitan cities having access to brands and the latest information aboutbrands. The data is collected through a qualified questionnaire that focuses not only determiningthe brand loyal customers, but also in finding out the most popular brand among the youth andthe influential factors that lead to the purchase of a particular brand. Page 5
    • REVIEW OF LITERATUREGlobalization has led to the proliferation of brands in the Indian Market. There have been manystudies conducted on consumer brand loyalty in the apparel industry in various parts of theworld. This study is an extension of few studies conducted earlier. Some of those studies havebeen listed below1. The Brand Loyalty of Sportswear in Hong Kong Author: Mei-mei Lau, Ph.D. Student, Institute of Textiles and Clothing, The Hong Kong Polytechnic University. Journal of Textile and Apparel, Technology and Management (JTATM), Volume 5, Issue 1, Winter 2006 This paper reports the brand loyalty of 280 university students, aged 18 to 24 years. This study explores the brand loyalty behaviour on sportswear and examines key brand loyalty factors; brand name, product quality, price, style, store environment, promotion and service quality. Consumers are classified into two categories by their degree on brand loyalty; hard- core loyal consumers and brand-switchers. This study concludes that brand name, style and promotion are key brand factors which can distinguish hard-core loyal brand consumers and brand-switchers. Brand name and style have more influence on brand loyalty of hard core brand consumers while promotion influences more on that on brand switchers. Product quality is perceived by both groups as the most important factor affecting their brand loyalty Inference: The overall image of a brand and its influential factors plays an important role in determining whether a consumer buys branded apparel and stays loyal to the brand. The brand image does not only account for quality but also the services provided at the store. Not all consumers are loyal. A consumer is capable of switching brands even when the apparel meets their requirement. Hence it is important to differentiate the loyal customers so that they could be served better and appropriate strategies could be taken to target that section of the market that is prone to brand switching. Page 6
    • 2. Korean Women’s Clothing Brand Loyalty Authors: Jungmi Oh (Newark, Delaware, USA). Susan. S. Fiorito (Textiles and Consumer Science Department, Florida State University, Tallahasse, Florida, USA). Journal of Fashion Marketing and Management, Volume 6, No 3, 20002 Date of Issue: 10.11.08 The purpose of this study was to identify clothing brand loyal customers regarding their buying behaviour, self-image and demographics. Also, brand loyal customers’ post purchase outcomes based on clothing attributes were investigated. The questionnaire was based on self administered pilot study and included measuring brand loyalty, consumer decision making and demographics. Data were from 328 questionnaires completed by adult women living in Seoul, Korea. The results shows that in purchasing tee shirts, 24.4% of the sample were brand loyal customers, 42.2% were brand loyal customers in purchasing trousers and 38.7% were brand loyal customers in purchasing jackets. The multiple discriminant analysis indicated several significant variables for profiling brand loyal customers and non brand loyal customers. High price, brand loyal customers and low/medium price, brand loyal customers significantly differed in post purchase satisfaction. Inference: Consumer who may not necessarily buy branded apparel all the time. The range of branded apparel that is bought may differ depending on the strata and demographics. The price of the apparel is a direct determinant of the post purchase satisfaction of a consumer.3. “Why She Shops?” The 2010 Fashion and Beauty Study Bain & Company with the cooperation of Vogue Magazine, June 2010 The research was conducted by Bain & Company with the cooperation of Vogue magazine. It evaluated 134 brands in retail, accessories, apparel, and beauty, using an online survey of 5,000 women in the U.S., between ages 18 and 60. The survey took place in June 2010. “Style-conscious” women met two criteria. First, they had the highest responses to questions about whether they follow the latest fashions and consider themselves stylish. Second, they had to spend at least $1000 per year on apparel, or $250 per year on accessories or $100 per year on beauty. Page 7
    • The ‘2010 Fashion and Beauty Brand Index’ is based on two factors: spending on the brand and loyalty to the brand. The spending metric includes the percentage of women who purchase the brand and the share of wallet held by the brand among style-conscious women relative to other brands in the category. The loyalty metric is based on Net Promoter Score® (NPS), which measures the percentage of brand promoters, who would recommend a brand to a friend against the percentage of brand detractors, who would not do so. The study revealed that winning brands score three times higher than average on dimensions such as “fits me well” (for apparel), “matches my style,” and “trusted / high quality.” Notably, the study finds that women in 2010 did not rate “price” as a differentiator. The study also finds that winning brands had substantially higher customer loyalty and advocacy scores. The study also revealed that these women gravitate towards brands that deliver on heritage, sustainability and provenance. Inference: In the US, price is not a differentiating factor, i.e. consumers do not make decisions based on the price of the branded apparel. Brand loyalty is determined more in terms of quality, heritage, trust and the like. This attitude could be extended to the Indian scenario as well because of the growing western influence.4. Decision Making Behaviour Towards Casual Wear Buying: A Study of young Consumers in Mainland China Authors: Kwan C.Y, Yeung K.W, Au K.F (Hong Kong Polytechnic University). Journal of Management & World Business Research, Vol , No 1, 2004 This paper explores young Chinese consumers’ decision-making behaviour towards casual wear purchase in Mainland China. Specifically, it offers empirical results on the relationship between consumers’ decision-making styles and clothing choice criteria towards buying casual wear. The Consumer Style Inventory (CSI), developed by Sproles and Kendall (1986) for examining different consumer decision-making styles, was adapted in this study. A questionnaire survey was employed as the tool to collect primary data and the research instrument was administered to 161 University students in Shanghai, Beijing and Guangzhou in the Mainland. The results show that six decision-making styles; recreational and Page 8
    • hedonistic consciousness, perfectionism consciousness, confused by over choice, habitual and brand loyalty, price and value consciousness, and brand and fashion consciousness, were found in the Mainland. Inference: Brand is an important determinant in the purchase of Casual Wear. Hence it could be inferred that brands play an important role in determining the buying behavior of a consumer even if it is for the purchase of casual clothing.5. Consumer Culture and Purchase Intention towards Fashion Apparel Rajagopal, EGADE Business School, March 2010 The study examines the determinants of consumer behaviour and their impact on purchase intentions towards fashion apparel. The results reveal that socio-cultural and personality related factors induce the purchase intentions among consumers. One of the contributions that this research extends is the debate about the converging economic, cognitive and brand related factors to induce purchase intentions. Fashion loving consumers typically patronage multi-channel retail outlets, designer brands, and invest time and cost towards an advantageous product search. The results of the study show a positive effect of store and brand preferences on developing purchase intentions for fashion apparel among consumers. Inference: Fashion is a driving force for the purchase of branded apparels. Purchasing intentions of a consumer can be changed by attributes of different brands. Hence brand along with economic, cognitive factors plays an important role in determining purchasing intentions.These surveys which have been done previously will aid in my present survey in terms of thegeneral factors that influence the purchase of brands and also the general method of evaluation. Itcan also determine if there has been a trend shift in the purchase of branded apparels. Page 9
    • OBJECTIVES OF THE STUDYThe broad objectives of this research are 1. Brand preferences of the youth in buying branded apparel i.e., do youngsters buy only branded apparels? If they do, when do they buy branded apparel? 2. Most preferred brand among the youth 3. Factors influencing the purchase of branded apparels i.e. on what basis do they prefer the brands they purchase 4. Is there any relationship between brands, status and personality? Who influences individuals to buy branded clothes? 5. Do celebrities really have an impact on the minds of youth and does this influence their purchase of branded clothes? 6. From which media do youngsters get information about their brands? This can be used to take decisions like in which avenues of media should investments be made. 7. To determine the result of the hypothesis; “There is no significant difference between the degree of preference of branded clothes and the social status that the brands depict.” Page 10
    • RESEARCH METHODOLOGYSample Size:The sample size is 52. The questionnaire was administered to youth between the ages 17 and 27living in Pune, Bannglore, Mumbai & Chennai.Sampling Technique:The sampling technique used in this survey is Convenience Sampling considering the scope andsize of the survey.Primary Data:The data that is used in this survey is primary data that is collected by administering aquestionnaire to the youth. The questionnaire was administered electronically.Secondary Data:Secondary data was collected for the purpose of Review of Literature where data from previousstudies was collected for the purpose of reference and framing the survey outline.Formulas:i) Mean: ∑ ܺ݅ /ܰ where Xi is the observation series N = Sample Sizeii) Standard Deviation: ඥ∑ሺܺ݅ − ܺ݅ሻ^2/ሺܰ − 1ሻ where Xi is the observation series; N – Sample Sizeiii) Correlation: Degree of Correlation (A,B) = Cov (A,B) SD (A) * SD (B) Page 11
    • ଵ Covariance (A,B) = ∑ሺܺ݅ − ܺ݅ሻ∑ሺܻ݅ − ܻ݅ሻ ௡iv) Standard Error: Standard Error (SE) = √S12/n1 + S22/n2v) Degrees of Freedom: Degree of Freedom = (S12/n1 + S22/n2)2 ((1/ n1-1)*((S12/n1)2)) + ((1/ n2-1)*((S22/n2)2))vi) t calc: t calc = A – B - Do where Do= 0 SE Page 12
    • DATA ANALYSIS(I) CHARTS Page 13
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    • (II) FINDINGS • Brands are preferred by 37% of the sample, and 27 % have no opinion on their degree of preference of brands. It is interesting to note that amongst the youth, only 13% have strong preference for brands. • 69% of the sample purchase branded clothes in the Casual segment of apparels, closely followed by the Formals segment which records 63% of purchases. • One of the objectives of the research is to find the most popular brand and based on the analysis of the data collected, “Levis” is the most popular brand amongst the youth. 69% of the sample have indicated strong liking for the brand, followed by Nike & Adidas which have been rated by 50% & 44% of the sample as their favourite brand. The most popular brand in the Casual segment is Levis. The most popular brands in the Formals segment are Park Avenue & Raymond which have been rated by 37% of the segment as their favourite brand. The most popular brand in the Sports segment is Nike. • 92% of the sample buys the brands that they prefer because of the Quality of the product followed by Design which accounts for 63% of the purchases and Brand Name which accounts for 46% of the purchases. • 73% of the sample purchase branded clothes casually, 54% purchase branded clothes for their birthdays, 42% purchase branded clothes during festivals. • People do not wear only branded clothes, this is indicated by 35% of the sample expressing neutral opinion when asked if they wear only branded clothes and 33% disagree on the statement. • 33% of the sample disagrees when asked if they wear branded clothes to impress people and 25% strongly disagree and 25% have a neutral take. This implies that people do not buy branded clothes to create a good impression in the minds of the others. Only a meager 4% strongly agrees with this statement. Page 20
    • • Branded clothes are a status symbol; 42% of the sample has taken a neutral opinion in this regard followed by 25% who have expressed disagreement with this statement.• When asked if they prefer to purchase apparels worn by celebrities, 40% of the sample strongly disagreed and 35% agreed with the statement. A meager 4% agreed with it.• People have a neutral on whether they feel self assured when they wear branded clothes. This is indicated by the 31% of the sample who have selected neutral closely followed by 27% of the sample who disagree on this statement implying that branded clothes have a nothing to do with their self-assurance (confidence).• Peer group influences an individual to buy branded clothes. This is indicated by the 65% of the sample who are influenced by friends. 50% are influenced by the brand itself.• Most people get information about their favourite brands from TV which caters to 79% of the information needs of the sample followed by Point of Sale Display & Internet which have recorded 60% and 56% respectively.• 33% of the sample has a neutral take on whether brands show where they stand in the society. A close 29% agree that brands are a status symbol of a person and 21% disagree with it.• When asked if the Brand that they wear depicts confidence, 35% expressed neutrality and 27% agreed with this statement and 19% have disagreed with it.• 38% of the sample is unsure if brands speak about their attitude and 25% agree that brands depict their attitude (e.g. cool, trendy, sophisticated etc) and 17% disagree with it.• When asked if they feel superior to others when they wear branded clothes, 40% of the sample has a neutral take on it whereas 31% of the sample has expressed their disagreement to the statement which implies that brands do not make them feel superior to others. Page 21
    • (III) STATISTICAL TECHNIQUES a) Correlation Degree of Brand Status SymbolS.No Preference (A) (B) 1 5 5 2 4 2 Degree of Brand Preference 3 1 2 1 Least Preferred 4 5 5 2 Moderately Preferred 5 3 4 3 Neutral 6 4 3 4 Preferred 7 4 4 5 Mostly Preferred 8 3 3 9 2 3 Brand – Status Symbol 10 1 3 1 Strongly Disagree 11 2 2 2 Disagree 12 2 1 3 Neutral 13 3 3 4 Agree 14 5 4 5 Strongly Agree 15 4 3 16 4 5 17 4 2 36 4 5 18 4 3 37 2 3 19 4 2 38 5 2 20 2 3 39 3 2 21 3 3 40 3 2 22 4 4 41 2 3 23 5 3 42 3 3 24 3 1 43 3 3 25 4 3 44 3 3 26 4 3 45 3 4 27 5 3 46 2 3 28 4 2 47 4 4 29 2 3 48 2 3 30 4 4 49 4 4 31 4 4 50 3 2 32 4 2 51 5 2 33 4 2 52 3 3 34 1 1 Degree of Correlation (A,B) 0.344750852 35 3 4 Page 22
    • The two variables; Degree of Preference of Brands & Brand being a Status Symbol is positivelycorrelated. The Degree of Correlation is 0.34. It can be inferred that, as the preference in brandsincreases, a person’s belief that a brand is a status symbol in the society increases only relatively. b) Mode Basis on which you like your brand the most 1 2 1 6 1 2 3 4 5 6 1 2 1 2 3 6 1 2 6 1 3 1 3 1 3 4 5 4 1 2 3 1 2 1 3 1 2 1 2 3 6 1 3 1 2 6 1 1 2 6 1 2 6 1 2 6 1 2 6 1 2 6 1 3 6 1 2 3 1 3 6 1 2 3 1 2 3 1 2 1 2 3 6 1 6 1 2 3 1 1 3 3 6 2 3 1 2 3 4 1 2 6 3 1 1 2 1 2 3 1 2 6 1 2 6 1 2 6 1 2 3 1 6 1 5 6 1 4 6 1 2 1 2 1 2 1 2 3 Mode = 1 : (49) Key 1 Product Quality 2 Design 3 Brand Name 4 Store Environment 5 Price 6 PromotionThe Mode is Product Quality which appears 49 times. This is the option that frequently selectedby the candidates. This implies that people prefer brands that they purchase because of theQuality it holds. They believe that their product lasts more than others. Hence they go in for thebrand that they purchase. Page 23
    • c) Mean - Who feels more confident when they wear branded clothes; Men or Women? S.No Female Male S.No Female Male 1 5 2 19 1 2 3 4 20 3 3 3 5 21 3 4 3 3 22 2 5 2 3 23 4 6 1 3 24 2 7 3 4 25 4 8 4 5 26 4 9 1 2 27 3 10 2 2 28 4 11 3 3 29 4 12 4 4 30 5 13 3 4 31 3 14 2 3 32 1 15 2 4 33 3 16 1 4 34 2 17 1 3 Mean 2.61 3.21 18 4 3The result shows that the mean for women is 2.6, which is nearly 3, and for men, it is 3.2, that isnearly 3. This shows that both men & women are neutral on the statement as to whether wearingbrands increases their confidence. This shows that people neither believe or disbelieve inboosting their confidence by wearing branded clothes and there is no significant differencebetween men & women wearing branded clothes to boost their confidence. Page 24
    • - Do people really buy only the latest fashion? What is their level of variability? Do people wear only the Do people wear only the latest fashion? latest fashion? 5 3 2 3 4 3 5 3 2 3 3 3 3 1 4 1 3 5 3 3 3 3 3 3 3 3 4 4 3 3 3 3 3 2 3 3 3 2 3 3 3 3 3 3 5 3 2 2 2 3 4 Mean: 3.08 5 Std Dev: 0.88An average number of people have a “Neutral” opinion on whether they wear only the latestfashion. This indicates that they are unsure as to whether they really wear only the latest fashion.The level of variability (Standard Deviation) is also minimal; 0.88 which means that more or lessall of them have largely indicated that they have a neutral opinion. Page 25
    • d) Inferences about the significant differences between two population means where S.D. 1 and S.D. 2 are unknown (Student t-test) Degree of Degree of Brand Status Brand Status S.No S.No Preference Symbol (B) Preference Symbol (B) (A) (A) 1 5 5 29 2 3 2 4 2 30 4 4 3 1 2 31 4 4 4 5 5 32 4 2 5 3 4 33 4 2 6 4 3 34 1 1 7 4 4 35 3 4 8 3 3 36 4 5 9 2 3 37 2 3 10 1 3 38 5 2 11 2 2 39 3 2 12 2 1 40 3 2 13 3 3 41 2 3 14 5 4 42 3 3 15 4 3 43 3 3 16 4 5 44 3 3 17 4 2 45 3 4 18 4 3 46 2 3 19 4 2 47 4 4 20 2 3 48 2 3 21 3 3 49 4 4 22 4 4 50 3 2 23 5 3 51 5 2 24 3 1 52 3 3 25 4 3 Mean 3.35 2.98 26 4 3 Std Dev (S) 1.10 1.00 27 5 3 N 52 52n1 = 52 n2 = 52 α is assumed to be 0.05Standard Error (SE) = √S12/n1 + S22/n2Standard Error (SE) = √1.102/52 + 1.002/52 = 0.21Ho: There is no significant difference between the degree of brand preference and the socialstatus that brands depict. Page 26
    • Ha: There is a significant difference between the degree of brand preference and the social statusthat brands depict.(It is a two tailed test)Degree of Freedom = (S12/n1 + S22/n2)2 ((1/ n1-1)*((S12/n1)2)) + ((1/ n2-1)*((S22/n2)2)) = (0.02326923+0.019230769)2 (1/51)*(1.102/52)2 + (1/51)*(1.002/52)2 = 0.001806 = 0.001806 0.0000106 + 0.00000725 0.00011325Degree of Freedom (d.o.f) = 101.176 = 101t calc = A – B - Do where Do= 0 SE = 3.35 – 2.98 0.21t calc = 1.77tα/2 for d.o.f – 101 and α/2 – 0.025tα/2= 1.960Rejection Rule for Ho: t calc ≥ tα/2Here, t calc < tα/2; Hence, do not reject HoTherefore, the claim that there is no significant difference between the degree of brandpreference and the social status that brands depict cannot be rejected. With further testing,we can prove the alternate hypothesis. Page 27
    • CONCLUSIONTo a very large extent, youth do prefer brands but they are not brand conscious and neither dothey buy only branded apparels. Most of them purchase brands casually and others do for specialoccasions, mostly, birthdays. Levis Strauss is most preferred brand amongst the youth andfactors such as Fabric Quality, Design and Brand Name has made it the most favourite amongstthe youth. The Quality factors may be that the brand that they buy may last longer than otherbrands. The Design factors maybe that the brand that they buy may provide more variety thanother brands. The Brand Name factors might be the reputation of the brand, attraction of thebrand to the individual or that the brand might reflect the individual’s personality. Althoughpeople’s neutrality did not change when they were asked to rate level of agreement for 2sentences, “Brand is a status symbol” & “The brand I wear shows where I stand in the society”,a large number of people (29%) have agreed when the statement was reworded as “The brand Iwear shows where I stand in the society.” in contrary to 25% who disagreed on the statement“Brand is a status symbol”. The neutrality of the people did not change when they were asked torate level of agreement with “I am self-assured when I wear branded clothes” & “The Brand Iwear depicts my confidence” as majority (35%) of the sample has taken a neutral opinion in thisregard. It is interesting to note that the agreement of people with this statement has increasedwhich is evident from the 27% of the sample who agree with the latter statement, in contrary tothe 27% disagreement with the former statement. From this survey, it can be inferred brandsindeed depict the status of a person but it does not necessarily make them feel superior to others.Celebrities who endorse brands do not influence the general public to go in for that brand.Companies can rethink before spending a huge chunk on celebrities for endorsing a brand.Therefore, it is evident that branded apparels are widely preferred by the youth even if they arenot the only preference. Page 28
    • RECOMMENDATIONS• To build loyalty, companies can start loyalty programs by maintaining a database of customers who patronize the store often and offering them attractive discounts to encourage future purchases and loyalty to the brand.• Companies must focus on improving their quality & design as these factors have been rated as the most important factors for staying loyal to a brand.• Companies can think of other avenues of creative investment rather than investing heavily on celebrities for endorsing the brand as the study clearly indicates that celebrities do not influence most of the people in buying branded apparels.• Brands are status symbols and therefore care must be taken to improve the brand name in order to attract new customers and retain existing ones.• Most of the people get information about their brand from Televisions. Hence, this medium must be used to advertise the products.• Since there is no significant difference between the degree of brand preference and the social status that brands depicts, companies must target their entire customer base equally.• Companies can innovate and produce apparels catering to a section of people having similar attitude. Advertisements can enforce this in the minds of the people. For example, a jean with different pattern on it can cater to those who are cool and want to stay in fashion.• Companies must continue producing (in minimal amount) those apparels which are not in current fashion as the study reveals that people do not buy only the latest fashion. For example, straight cut jean may be out of fashion but there may be a loyal customer who still prefers wearing straight cut, she/he might shift to a brand that still manufactures straight cut jeans. Page 29
    • BIBLIOGRAPHYBook: • Statistics for Business & Economics by David. R. Anderson, Sweeney, Williams. Thomson South Western Publications. Ninth Edition, Year of Publication – 2005, 1st Indian Reprint – 2007. (Chapter 3 & Chapter 10)Websites: • https://spreadsheets.google.com/spreadsheet/viewform?hl=en_US&pli=1&formkey=dC1t a1RNZnFLZzFYSGVaMDRqZVF0dVE6MQ#gid=0 • http://www.tx.ncsu.edu/jtatm/volume5issue1/Articles/Lau/Lau_Full_169_05.pdf • http://www.deepdyve.com/lp/emerald-publishing/korean-women-s-clothing-brand- loyalty-0NRP8Zpx97 • http://sachaorloff.wordpress.com/2011/01/21/study-why-she-shops-the-2010-fashion- and-beauty/ • http://mba.americaeconomia.com/system/files/consumerculturefashion.pdf • http://www.academyofworldbusiness.com/assets/jomawbr/Article_1.pdf Page 30
    • ANNEXUREA) QUESTIONNAIRE Page 31
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