This document summarizes research on older consumers and implications for fashion marketing. Key points:
- Population aging is a significant global trend, with those over 60 expected to double in Europe by 2050.
- Older consumers have high and growing spending power but prefer value, quality, and trusted brands over novelty.
- The aging population presents both challenges and opportunities for fashion brands to design stylish, age-appropriate clothing that appeals to older consumers' self-perceptions and lifestyles.
- To effectively target older consumers, marketing should focus on service, value, loyalty, and clear communication using press and direct mail over digital channels.
Marks and Spencer 5 Year Business Plan/StrategyAminul Hoque
This report/project comprises of analysing Marks and Spencer in its current state and strategies as well as past achievements. The findings was then formulated into a report as recommendations which showed how strategically Marks and Spencer can improve. This also comprised of looking competitor analytic's and their campaigns for Marks and Spencer to be competitive. This report/project built on existing skills such as; business planning, marketing communications planning, product development and financial analysis.
Marks and Spencer 5 Year Business Plan/StrategyAminul Hoque
This report/project comprises of analysing Marks and Spencer in its current state and strategies as well as past achievements. The findings was then formulated into a report as recommendations which showed how strategically Marks and Spencer can improve. This also comprised of looking competitor analytic's and their campaigns for Marks and Spencer to be competitive. This report/project built on existing skills such as; business planning, marketing communications planning, product development and financial analysis.
Presentation on Marketing Management of Marks and SpencerMichell Wiliam
Marks and Spencer is the multinational retailer company selling various products. Our writers look under the hood and describe M&S introduction, current market position, planning, etc. Watch this ppt and learn about M&S.
Burberry group PLC is one of the leading manufacturers of high-end luxury goods. They specialize in selling outwear, accessories, fragrance, clothing for women, men and children. The iconic checkered or tartan pattern of Burberry is a distinctive style adopted by the company. Originally founded in 1856 and was bought by Great Universal stores PLC in 1955 (Phan, Thomas and Heine, 2011). Company has managed to sustain and thrive. In 2006, Angela Ahrendts took over the company from Rose Bravo. She brought in a number of innovative marketing strategies of the company. During Angela Ahrendts a “Multi Dimensional strategy” was adopted in order to make sales. According to a 2013 report net asset value of Burberry was estimated to be 4.34 Billion (Johansson, 2014). In 2014 Christopher Bailey Took over the company and has been presiding over the company as CEO (Ward, and Dahl, 2014). The thorough marketing and brand strategy made by Burberry is explained in detail in the following.
The case study was given to us by our Professor in Business Policy and Strategy where we were to analyze Patagonia's achievements and successes as well as their downfalls, and give them new ways to expand their business. We took a look at they're corporate strategies, finances, and sales, and then provided feedback with data for where they should ultimately take their company which was described in the case analysis that was given to us.
Presentation on Marketing Management of Marks and SpencerMichell Wiliam
Marks and Spencer is the multinational retailer company selling various products. Our writers look under the hood and describe M&S introduction, current market position, planning, etc. Watch this ppt and learn about M&S.
Burberry group PLC is one of the leading manufacturers of high-end luxury goods. They specialize in selling outwear, accessories, fragrance, clothing for women, men and children. The iconic checkered or tartan pattern of Burberry is a distinctive style adopted by the company. Originally founded in 1856 and was bought by Great Universal stores PLC in 1955 (Phan, Thomas and Heine, 2011). Company has managed to sustain and thrive. In 2006, Angela Ahrendts took over the company from Rose Bravo. She brought in a number of innovative marketing strategies of the company. During Angela Ahrendts a “Multi Dimensional strategy” was adopted in order to make sales. According to a 2013 report net asset value of Burberry was estimated to be 4.34 Billion (Johansson, 2014). In 2014 Christopher Bailey Took over the company and has been presiding over the company as CEO (Ward, and Dahl, 2014). The thorough marketing and brand strategy made by Burberry is explained in detail in the following.
The case study was given to us by our Professor in Business Policy and Strategy where we were to analyze Patagonia's achievements and successes as well as their downfalls, and give them new ways to expand their business. We took a look at they're corporate strategies, finances, and sales, and then provided feedback with data for where they should ultimately take their company which was described in the case analysis that was given to us.
A Study on Consumer Behaviour towards Branded Garments am ong Male Shoppersinventionjournals
In the age of identity crisis and need for differentiation, everyone is after uniqueness; particularly h ow one wishes to appear. India is a global market for fashion garments and there is a cut throat competition exi sting among brands. Companies are rigorously working on identifying consumer buying behaviour, preferences, creating awareness, and a positive attitude towards their brands in order to grab larger portion of the market. Therefore, it is become necessary to study the consumer behaviour towards various branded men`s garments. T he study emphasis on how consumer evaluate branded garments on the basis of style, texture, price, colour, adv ertisement and celebrity endorsements, preferences towards branded garments and reasons for purchasing bran ded garments. The researcher has used descriptive research design, conducted study only with 150 respondents from two Engineering college, Bangalore. Statistical tools like measurement of central tendency, Chi-Square ar e used to test and analyse the collected data. Finally, it is revealed that irrespective of age and education levels respondents are buying branded garments to enhance their style, ant to protect their self-respect.
A Study on Consumer Behaviour towards Branded Garments am ong Male Shoppersinventionjournals
In the age of identity crisis and need for differentiation, everyone is after uniqueness; particularly h ow one wishes to appear. India is a global market for fashion garments and there is a cut throat competition exi sting among brands. Companies are rigorously working on identifying consumer buying behaviour, preferences, creating awareness, and a positive attitude towards their brands in order to grab larger portion of the market. Therefore, it is become necessary to study the consumer behaviour towards various branded men`s garments. T he study emphasis on how consumer evaluate branded garments on the basis of style, texture, price, colour, adv ertisement and celebrity endorsements, preferences towards branded garments and reasons for purchasing bran ded garments. The researcher has used descriptive research design, conducted study only with 150 respondents from two Engineering college, Bangalore. Statistical tools like measurement of central tendency, Chi-Square ar e used to test and analyse the collected data. Finally, it is revealed that irrespective of age and education levels respondents are buying branded garments to enhance their style, ant to protect their self-respect.
Planned Fashion Obsolescence in the light of Supply Chain Management. This is a research article with qualitative approach. The same article can be downloaded from the following link:
https://www.abacademies.org/abstract/planned-fashion-obsolescence-in-the-light-of-supply-chain-uncertainty-8967.html
Do Social Media Impact Consumer Buying Decisions in the Fashion Industry duri...Dr. Amarjeet Singh
Impact on consumer shopping behavior ramped up despite the fluctuations in the pandemic and lockdown in the past year due to of the social media. Because the advent of social media has changed the globe and the whole way it operates, putting the society and its peoples closer together even as a means of boosting customer assets through powerful communication during this challenging period. The purpose of this study is to define the characteristics of social media marketing factors and to examine the impact of those perceived factors upon customer purchasing decisions, given the immense concern in using social media marketing among fashion brands during the period of covid-19 pandemic. This research primarily fixated on five variables in social media, such as entertainment, interactions, trendiness, customization and word of mouth effect on the consumer purchasing decisions. A deductive methodology was taken, and 100 questionnaires, via the Google online form, were circulated to gather data. For data interpretation using SPSS, descriptive and inferential statistics were used such as mean value, standard deviation and correlation and regression analysis. The study of the data shows that social media-marketing factors like entertainment, communications, trends, customizing and word of mouth influence customer buying decisions, and that these factors have a positive relation with consumer purchase decisions. These results also revealed that women and individuals aged twenty-five to thirty-four years of age are more inclined to buy fashion-related products during this pandemic situation and suggested to develop marketing tools targeted at this particular category. Further, the results of this study will help fashion companies more specifically forecast the purchasing habits of their customers and control their investments and marketing efforts in this challenging period.
COURSE TEXT Chapter 12 Cited Keegan, W. J., & Green, M. C. (2020CruzIbarra161
COURSE TEXT: Chapter 12 Cited: Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com
2 Global Marketing Channels and Physical Distribution
Learning Objectives
12-1 Identify and compare the basic structure options for consumer channels and industrial channels.
12-2 List the guidelines companies should follow when establishing channels and working with intermediaries in global markets.
12-3 Describe the different categories of retail operations that are found in various parts of the world.
12-4 Compare and contrast the six major international transportation modes and explain how they vary in terms of reliability, accessibility, and other performance metrics.
Case 12-1 Welcome to the World of Fast Fashion
The world of global fast-fashion is like a three-way horse race. Spain’s Inditex SA is the parent company of specialty retailer Zara; Sweden is home to Hennes & Mauritz AB, better known to shoppers as H&M; and Uniqlo is the flagship brand of Japan’s Fast Retailing.
Part of the appeal of fast fashion is the low prices. Also attractive is the speed at which inventories are replenished and updated with affordable versions of the latest runway trends from the world’s fashion capitals. The need for speed is fueled in part by social media. A key element for some fast-fashion brands is sourcing clothing from countries with low-cost labor in Asia and elsewhere. In Cambodia, for example, more than 400 garment factories are registered exporters.
However, some industry observers note that low prices actually carry high social and environmental costs. Chasing the latest trends means that shoppers often discard inexpensive garments after wearing them just a few times. This leads to a consumer mindset that clothing purchases are disposable, rather than long-term investments. Critics assert that unwanted clothing often ends up in landfills, and that the fast-fashion trend is not sustainable (see Exhibit 12-1).
Exhibit 12-1
Some critics assert that the fast fashion trend contributes to overproduction and a “throw-away” mentality. The result is vast quantities of discarded clothing as well as "deadstock" (out-of-season garments and unused textiles). This Saks Fifth Avenue window display by Vetements was designed to call attention to the problem.
For years, Tadashi Yanai, the founder of the Uniqlo (“Unique Clothing”) chain, pursued a business model that differentiated his company from its European rivals. Uniqlo’s focus was on everyday basics and a new-product development process that relied heavily on innovative materials.
Inditex is the world’s largest fashion retailer, with more than 7,000 stores in 92 countries. In addition to Zara, its brands include Bershka, Pull & Bear, and Massimo Dutti. The company does not advertise, and its motto is “The company doesn’t speak; the customer speaks for the company.” Unlike some of its competitors, Inditex keeps nearly two-thirds of ...
WGSNFutures.com: Vision 2030 White Paperpaulcoxhill
With a booming global population that has an insatiable appetite for new fashion styles, the fashion industry is under pressure to deliver at speed, but it doesn't have to be at the expense of our natural environment.
“How about the insanity of a business model that chooses to put out monthly collections and then monthly 70% off sales? What other industry is doing that?” says Adam Derry, creative director of Ekocycle for Will.i.am and the Coca-Cola Company.
Don't Overlook Your Mature Consumers - BCG CCI Study.pdfSocial Samosa
The BCG Report titled 'Don’t Overlook Your Mature Consumers' looks at the 870 million consumers in the 50 to 70-year-old age bracket across 12 markets.
! 1Target Customer for Social Media Trends Social mSilvaGraf83
! 1
Target Customer for Social Media Trends
Social media trends have emerged as a prime service for many businesses around the
world. The use of its various forms, including influencers, has emerged as a great marketing
tool for many businesses around the country and even globally. Social media marketing has
become an industry with a target market and a need in the modern marketplace. The target
customer of social media marketing and trends will be discussed.
The target customer for social media trends is businesses seeking to appeal to the
mass public. Though every age group currently makes use of social media, the age group that
mostly uses social media is the 18 – 29 age group. Research shows that in 2021, 84% of
individuals in the age group used at least one social media platform globally. Individuals
closely followed them in the 30 – 49 age group with 81%, 50 – 64 with 71%, and only 45%
of individuals older than 65 used social media. The number of users in the 18-29 and 30 - 49
age brackets is relatively high (Pew Research Center, 2022).
Considering these statistics, any business that wishes to market to these individuals
can use social media marketing trends. Businesses in the modern era are also pursuing a
competitive edge to woe over clientele. With this decrease in print and visual media
viewership, many businesses are seeking alternative ways to reach out to their target market.
Social media marketing trends are an efficient tool for organizations whose target market is
between 18-65, a large group in the market. Social media marketing trends are effective for
all genders, races, and other demographics. This is because social media is used across the
demographics. Social media companies also collect user information and use sophisticated
algorithms to perform targeted marketing. In social media marketing, targeted marketing is
defined as reaching out straight to the targeted consumer of a particular product. For example,
a business that sells skincare products targeting men aged 18 – 24 who are African American
TARGET CUSTOMER FOR SOCIAL MEDIA TRENDS
!2
and living in Illinois can use social media marketing to target this particular audience. The
social media company will select this audience and market directly to them. This is what
makes social media marketing so versatile and easy to use.
One of the factors that attract businesses towards social media marketing trends is that
it is cheap compared to other advertising forms. For example, it is cheaper to advertise your
product on Facebook and Instagram than to advertise your product in a newspaper or on
television. When the business wishes to use targeted marketing, which social media
companies charge a small price for, it is cheaper when compared to advertising using
television or print media. Another reason businesses should use social media is that they can
reach higher numbers. The number of socia ...
! 1Target Customer for Social Media Trends Social mSilvaGraf83
! 1
Target Customer for Social Media Trends
Social media trends have emerged as a prime service for many businesses around the
world. The use of its various forms, including influencers, has emerged as a great marketing
tool for many businesses around the country and even globally. Social media marketing has
become an industry with a target market and a need in the modern marketplace. The target
customer of social media marketing and trends will be discussed.
The target customer for social media trends is businesses seeking to appeal to the
mass public. Though every age group currently makes use of social media, the age group that
mostly uses social media is the 18 – 29 age group. Research shows that in 2021, 84% of
individuals in the age group used at least one social media platform globally. Individuals
closely followed them in the 30 – 49 age group with 81%, 50 – 64 with 71%, and only 45%
of individuals older than 65 used social media. The number of users in the 18-29 and 30 - 49
age brackets is relatively high (Pew Research Center, 2022).
Considering these statistics, any business that wishes to market to these individuals
can use social media marketing trends. Businesses in the modern era are also pursuing a
competitive edge to woe over clientele. With this decrease in print and visual media
viewership, many businesses are seeking alternative ways to reach out to their target market.
Social media marketing trends are an efficient tool for organizations whose target market is
between 18-65, a large group in the market. Social media marketing trends are effective for
all genders, races, and other demographics. This is because social media is used across the
demographics. Social media companies also collect user information and use sophisticated
algorithms to perform targeted marketing. In social media marketing, targeted marketing is
defined as reaching out straight to the targeted consumer of a particular product. For example,
a business that sells skincare products targeting men aged 18 – 24 who are African American
TARGET CUSTOMER FOR SOCIAL MEDIA TRENDS
!2
and living in Illinois can use social media marketing to target this particular audience. The
social media company will select this audience and market directly to them. This is what
makes social media marketing so versatile and easy to use.
One of the factors that attract businesses towards social media marketing trends is that
it is cheap compared to other advertising forms. For example, it is cheaper to advertise your
product on Facebook and Instagram than to advertise your product in a newspaper or on
television. When the business wishes to use targeted marketing, which social media
companies charge a small price for, it is cheaper when compared to advertising using
television or print media. Another reason businesses should use social media is that they can
reach higher numbers. The number of socia ...
! 1Target Customer for Social Media Trends Social mMoseStaton39
! 1
Target Customer for Social Media Trends
Social media trends have emerged as a prime service for many businesses around the
world. The use of its various forms, including influencers, has emerged as a great marketing
tool for many businesses around the country and even globally. Social media marketing has
become an industry with a target market and a need in the modern marketplace. The target
customer of social media marketing and trends will be discussed.
The target customer for social media trends is businesses seeking to appeal to the
mass public. Though every age group currently makes use of social media, the age group that
mostly uses social media is the 18 – 29 age group. Research shows that in 2021, 84% of
individuals in the age group used at least one social media platform globally. Individuals
closely followed them in the 30 – 49 age group with 81%, 50 – 64 with 71%, and only 45%
of individuals older than 65 used social media. The number of users in the 18-29 and 30 - 49
age brackets is relatively high (Pew Research Center, 2022).
Considering these statistics, any business that wishes to market to these individuals
can use social media marketing trends. Businesses in the modern era are also pursuing a
competitive edge to woe over clientele. With this decrease in print and visual media
viewership, many businesses are seeking alternative ways to reach out to their target market.
Social media marketing trends are an efficient tool for organizations whose target market is
between 18-65, a large group in the market. Social media marketing trends are effective for
all genders, races, and other demographics. This is because social media is used across the
demographics. Social media companies also collect user information and use sophisticated
algorithms to perform targeted marketing. In social media marketing, targeted marketing is
defined as reaching out straight to the targeted consumer of a particular product. For example,
a business that sells skincare products targeting men aged 18 – 24 who are African American
TARGET CUSTOMER FOR SOCIAL MEDIA TRENDS
!2
and living in Illinois can use social media marketing to target this particular audience. The
social media company will select this audience and market directly to them. This is what
makes social media marketing so versatile and easy to use.
One of the factors that attract businesses towards social media marketing trends is that
it is cheap compared to other advertising forms. For example, it is cheaper to advertise your
product on Facebook and Instagram than to advertise your product in a newspaper or on
television. When the business wishes to use targeted marketing, which social media
companies charge a small price for, it is cheaper when compared to advertising using
television or print media. Another reason businesses should use social media is that they can
reach higher numbers. The number of socia ...
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
The Parable of the Pipeline a book every new businessman or business student ...
M&S Resource Based View
1. Organization in
Context
Individual Coursework
Deniz Kurugollu (10283502)
MSc Marketing
13.12.2010
2. Table of Contents
Executive Summary .............................................................................................................. - 2 -
Older consumers .................................................................................................................... - 2 -
Older consumers in fashion ................................................................................................... - 2 -
Older consumer in marketing ................................................................................................ - 3 -
Conclusions & Recommendations ........................................................................................ - 3 -
Distinctive capabilities: ..................................................................................................... - 4 -
Core competencies:............................................................................................................ - 4 -
References ............................................................................................................................. - 5 -
Appendix 1: Projected UK population by age ...................................................................... - 7 -
-1-
3. Executive Summary
Statistics shows that the world‟s population is aging at a rapid rate. In particular, in Europe by
2050, the number of people over 60 will be expected to double. The aim of the report is to
evaluate the aging population phenomenon from the fashion and marketing points of view,
and the implications of this for Marks & Spencer in relation to older customers. Finally,
recommendations based on the resource based view will be produced.
Older consumers
Demographic changes within the population show that older age groups will continue to grow
(Appendix 1). In addition, birth rates across Europe are falling. It is estimated that by 2050 the
number of people over 60 in Europe will be by 40 per cent of the population (BBC, 2002).
The elderly are the biggest spenders in the market in comparison to any of the other groups.
They are becoming more affluent as they age. Their purchasing power is very high (Iyer,
2009). Donald (2000) also points out that 50 plus age consumers in the market have 30 per
cent more disposable income in comparison to under-50s. According to Verdict (2010), 50
plus consumers account for 40 per cent of total consumer spending. Many older people are the
consumers who have money and willing to spend it. (Thomson and Thompson, 2009).
However, older people compare to the younger groups, are more likely to trade down and cut
back than to spend. They look for value and invest in something trusted (Mintel, 2010).
Older consumers in fashion
Research by NPD Group shows that elderly women account for 25 percent of the $100 billion
total women‟s apparel sales (Iyer, 2009). According to International Council of Shopping
Center (2003), older consumers are the big spenders at malls and departmental stores.
Rocha et al (2005) concluded that the aging baby boomers have changed the traditional
stereotype of older people. They want to be physically active as well as psychologically
young. Old consumers do not like to be reminded that they are old. Mentally most people over
the age of 50 probably still see themselves as in their 30s (Donald, 2000). They are still highly
interested in fashion and older celebrity role models. They want clothes that are relevant to
-2-
4. suit them considering the age fact, but at the same time they want to look fashionable (Mintel,
2010).
Research (Iltanen, 2005) shows that middle-age women complain that they cannot find
clothes that would please them. According to the study, designers were asked to describe
clothes for the older female market. The results were the garments with high necklines, long
sleeves, and longish tops. It therefore frustrated elderly consumers that they were not the
target for stylish fashion designers. Rocha (2005) reveals that older consumers look for
fashion products to be not only ergonomic (accepted as a key factor for developing products
for older people), but to be stylish and to reflect their own lifestyles.
Older consumer in marketing
Li (2003) states that there is a need for developing a new business model in designing,
manufacturing and retailing in order to cater for emerging older age group. Thompson and
Thompson (2009) suggest that marketing activities need to focus on improving such
components as service, value and loyalty, due to aging consumer base. Reicheld (1996)
indicates that loyalty is related to value creation. On the other hand, Brown (2001) reveals that
elderly consumers are not more brand loyal than other consumer groups. They make careful
assessments of the quality of competing products.
Sudbury (2009) points out that the older end of the market is not homogenous; in fact
substantially diverse. Barak and Shiffman (1981) state that one method of differentiating older
consumers is by the cognitive age. Segmenting consumers according to their self-perceived
age may therefore be a useful approach (Carrigan and Szmigin 2001; Wei 2005).
In terms of marketing communication, press may well suit for reaching older people because
they want to digest messages. Direct marketing can work well. These people are much more
likely to answer the phone and read mail than younger people. Advertising should have clear
structures with simple selling messages that they can decode easily (Donald, 2000).
Conclusions & Recommendations
In terms of the level of turbulence in the market, the aging population fact is predictable,
which means the future visibility is available and the rate of change can be monitored. Data
-3-
5. show that older age groups will continue to grow, so the phenomenon is clear and serious.
The emerging aging population in Europe is obvious and the level of impact on M&S is high.
It can therefore be suggested that this phenomenon should be monitored closely and long-term
plans should be developed to meet these emerging customers‟ needs and wants.
Resource based view refers to seeking a long-term fit between the needs and demands of the
market and the organisation‟s abilities to compete in the market (Hooley, 2008). Lynch (2006)
states that resource based view of strategy development focuses on the organization‟s own
resources in order to achieve its goals and objectives rather than strategies which are common
in the industry. Two components can be related to the resource based view; distinctive
capabilities and core competences (Kay, cited in Lynch, 2006). Based on this approach the
followings can be noted for M&S:
Distinctive capabilities:
a. Architecture: Considering the facts in the „older consumers in fashion‟
section, it may be inferred that M&S should allocate more resources for
clothing designs in order to meet these emerging groups‟ demand. More
stylish, trendier designs for older consumers can be offered under sub-brands
of the company. Hence, M&S should use the network of relationships with its
suppliers, designers and manufacturers so as to offer more fashion-driven
products for older consumers.
b. Reputation & Knowledge-based advantage: M&S has already a good
reputation and brand awareness among the older age women in the market
since the company mainly target 40 plus consumers (Mintel, 2010). In
comparison to its competitors targeting the young such as H&M, Zara, Next,
Topshop, River Island, it can be noted that the company has a knowledge-
based advantage over the older consumers.
Core competencies:
c. Competitor differentiation & customer value : Focusing on the older end
of the market, in other words, leaving the crowded young fashion market to the
competitors can be seen as a good strategy. Therefore, the increase of older
population can be seen as an opportunity for the company. M&S should
continue to serve for this target audience by taking advantage of its knowledge,
reputation and core values – „quality, value, service, innovation and trust‟
(M&S, 2010).
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6. References
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variable‟. Advances in consumer research. Vol. 8, pp.602–606.
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http://news.bbc.co.uk/1/hi/business/2248531.stm [Accessed 8 December 2010]
Brown, S (2001) Marketing: The Retro Revolution. 1st ed. London: SAGE Publication
Ltd.
Carrigan, M. and Szmigin, I. (2001) „Learning to love the older consumer‟. Journal of
Consumer Behaviour. (1) 1. pp. 22-34
Helen Donald (2000) „Glad to be grey?‟. [Online]. Available at:
http://www.marketingweek.co.uk/home/glad-to-be-grey?/2049144.article[Accessed 8
December 2010]
Hooley, G., Piercy, N. and Nicaulaud, P. (2008) Marketing Strategy and Competitive
Positioning. 4th ed. Essex: Pearson Education Limited
ICSC (2003) ICSC Research Quarterly. Volume 10. Number 2. [ Online]. Available
at: http://www.icsc.org/srch/rsrch/researchquarterly/current/rr2003102/trends.pdf
[Accessed 10th December 2010]
Iltanen, S. (2003) „Ageless and ageing: a survey of fashion designers and their
conceptions of the target group‟. Royal College of Art, London.
Iyer, R. (2009) „The aging population- a new growth market‟. Bradley University.
[Online]. Available at:
http://docs.google.com/viewer?a=v&q=cache:VXljefpXiBIJ:www.iatto.org/forum/Do
cFile/89359_Rajesh%2520Iyer,%2520The%2520aging%2520population%2520%25E
2%2580%2593%2520a%2520new%2520growth%2520market.pdf [Accessed 7th
December 2010]
Keynote (2009) Clothing Retail Market Report Plus. [Online]. Available at:
http://www.keynote.co.uk/market-intelligence/view/product/10322/clothing-
retailing?utm_source=kn.reports.browse [Accessed 8th December 2010]
Li, Z. (2003), “Functional clothing design for the active grey market”. Royal College
of Art, London.
Lye, A., Shao, W. and Thiele, S. (2005) „Decision waves: consumer decisions in
today‟s complex world‟. European Journal of Marketing. 39 (1). pp. 216-230
Lynch, R (2006) Corporate Strategy. 4th ed. Essex: Pearson Education Limited
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7. Mintel (2010) Clothing retailing- UK. Available at:
http://academic.mintel.com/sinatra/oxygen_academic/search_results/show&/display/id
=479925/display/id=551238?select_section=551243 [Accessed 10th December 2010]
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December 2010]
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8. Appendix 1: Projected UK population by age
Table A: Projected UK population by age
2006 2011 2016 2021 2026 2031
Age Group
0-14 10,737 10,912 11,428 11,947 12,026 11,974
15-29 11,876 12,614 12,458 12,024 12,191 12,706
30-44 13,302 12,699 12,691 13,492 14,132 13,975
45-59 11,744 12,295 13,094 12,986 12,398 12,420
60-74 8,269 9,265 9,824 10,432 11,035 11,802
75 and over 4,659 4,975 5,480 6,309 7,477 8,223
All ages 60,587 62,761 64,975 67,191 69,260 71,100
Source: Keynote (2009) Clothing Retailing Market Report Plus
Keynote (2009) states that the rapid growth in the UK population is „inevitably
expanding the overall market for clothing in the UK. According to official projections, the
UK‟s population is set to grow to 71 million in 2031, from 60.6 million in 2006. Furthermore,
Eurostat has forecast that the UK population will grow from its current figure of 61.9 million,
to nearly 77 million in 2060- an increase of 24.4%. However, demographic changes within the
population will not be positive for the clothing market. The proportion of children in the UK
(those aged under 14)- a key growth area for clothing sales- is set to fall from 17.7% in 2006
to 17.6% in 2016 and 16.8% in 2031. Meanwhile, the 30 to 44 year-old age bracket (another
key group for the market) is also forecast to decrease, from 22% of the total population in
2006, to 19.5% in 2016, although it is expected to increase slightly to 19.7% in 2031.
Figure 1: Projected UK Population by Age
16
14
12
0-14
Million people
10 15-29
8 30-44
6 45-59
4 60-74
75 and over
2
0
2006 2011 2016 2021 2026 2031
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