BR Thesis Final Draft.pdf

Description
Valued as a $28 billion industry in 2021, the second-hand clothing industry, or thrifting industry, has been exploding (2020 Fashion Resale Market and Trend Report, 2020). This has been aided by a myriad of technological advancements, social movements, and economic

Valued as a $28 billion industry in 2021, the second-hand clothing industry, or thrifting industry, has been exploding (2020 Fashion Resale Market and Trend Report, 2020). This has been aided by a myriad of technological advancements, social movements, and economic factors. The goal of this thesis is to uncover consumer behaviors leading to this growth across behavioral, emotional, perceptual, and belief factors. Additionally, this thesis aims to provide strategic implications for marketing professionals, create recommendations for brands to successfully enter this industry and target consumers. In this study, a Qualtrics survey was distributed to students at Arizona State University. The results were analyzed through Microsoft Excel. The results showed that in order to be successful in this industry, brands should: emphasize sustainability in marketing, increase brand awareness, highlight feelings of pride in products, uniqueness, and affordability, mitigate feelings of poverty, low quality, and lack of variety, understand the perceptual differences in shopping versus thrifting, and take advantage of branded fashion.
Date Created
2023-05
Agent

Consumer Behavior in the Second-Hand Clothing Industry

Description

Valued as a $28 billion industry in 2021, the second-hand clothing industry, or thrifting industry, has been exploding (2020 Fashion Resale Market and Trend Report, 2020). This has been aided by a myriad of technological advancements, social movements, and economic

Valued as a $28 billion industry in 2021, the second-hand clothing industry, or thrifting industry, has been exploding (2020 Fashion Resale Market and Trend Report, 2020). This has been aided by a myriad of technological advancements, social movements, and economic factors. The goal of this thesis is to uncover consumer behaviors leading to this growth across behavioral, emotional, perceptual, and belief factors. Additionally, this thesis aims to provide strategic implications for marketing professionals, create recommendations for brands to successfully enter this industry and target consumers. In this study, a Qualtrics survey was distributed to students at Arizona State University. The results were analyzed through Microsoft Excel. The results showed that in order to be successful in this industry, brands should: emphasize sustainability in marketing, increase brand awareness, highlight feelings of pride in products, uniqueness, and affordability, mitigate feelings of poverty, low quality, and lack of variety, understand the perceptual differences in shopping versus thrifting, and take advantage of branded fashion.

Date Created
2023-05
Agent

The Importance of Brand Meaningfulness: An Analysis of the American Girl Brand

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Description
Today’s consumers desire brands that are purpose-driven, stand for something bigger than the products they sell, and leave a lasting impact on their customers and community. Using this idea of brand meaningfulness as part of the larger concept of brand

Today’s consumers desire brands that are purpose-driven, stand for something bigger than the products they sell, and leave a lasting impact on their customers and community. Using this idea of brand meaningfulness as part of the larger concept of brand purpose, “The Importance of Brand Meaningfulness: An Analysis of the American Girl Brand” questions whether a brand perceived as meaningful to consumers is actually a meaningful brand and identifies what it should be doing to become a meaningful brand. This thesis analyzes the concept and effectiveness of brand meaningfulness through an analysis of the American Girl brand, a brand that is personally meaningful to the thesis author, among many other consumers. Using data from over 200 survey respondents and 7 interpersonal interviews, an observational analysis, and insight from personal experiences working for the brand, this thesis provides recommendations to increase brand meaningfulness, complete with visual prototypes.
Date Created
2022-05
Agent

Gen Z, Influencers, and the Luxury Fashion Industry

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Description
The goal of this research study is to examine the nature and effects of social media marketing and the role it has played towards driving Gen Z into the luxury fashion industry. In addition, qualitative exploration focused on uncovering the

The goal of this research study is to examine the nature and effects of social media marketing and the role it has played towards driving Gen Z into the luxury fashion industry. In addition, qualitative exploration focused on uncovering the reason behind why this market chooses to purchase luxury products and investigated the relationship between social media influencers, luxury brands, and their consumers. Through 12 qualitative research interviews, five key insights were suggested from the results of the study: people buy luxury to fit in or stand out in social groups, social media marketing portrays a false reality, social media has contributed to the rise of Gen Z consumers in luxury fashion, social media has normalized owning luxury products, and social media has caused lowered self esteem and social pressure amongst Gen Z. These insights can be explained through a triangular framework, making up a marketing ecosystem involving the brand, the social media influencer, and the consumer. These three roles work together to buy and sell goods from one another. If one of the players fails to do their role, the relationships fall apart. Given phones and apps are highly personal items often only used by one individual, understanding and comparing the ads and images one user is exposed to versus another can be very tricky. Recently, the Federal Trade Commission has increased regulations over native advertisements when viewers became unable to decipher ad from reality. Gen Z’s may inadvertently compare themselves to influencers, ultimately causing lowered self esteem when they cannot possess or achieve the lifestyle of these individuals. These insights are important to help understand how to negate the negative effects of social media marketing and propel companies to be more transparent in their marketing initiatives to reduce social pressure and poor mental health amongst Gen Z. Luxury brands could utilize more explicit differentiators on paid advertisements compared to editorial material to make audiences more knowledgeable of the type of content they are viewing. In addition, society should change the way people perceive online content and have more open discussions surrounding the ethics of native advertising and decipection social media posts may cause. The way young users interact and process social media posts is very complex. Investigating this topic is important to prevent the possible underlying repercussions of social media and help marketers best cater toward this market in an open, ethical fashion. This study concludes with managerial applications and directions for further research. Businesses should prepare to face increasing guidelines regarding native advertising. These guidelines may include requirements to have explicit markings on branded content and binding contracts with social media influencers. To work around these restrictions, the future of luxury fashion indicates that direct to consumer strategies are on the rise. Video livestream retail and social commerce are already taking the Chinese market by storm and it's only a matter of time before American brands will be forced to adapt to keep up with changing trends in the marketplace. DTC brands benefit from having a direct channel to the consumer without interpretation or the need for intermediaries. Given this research primarily focuses on the links between the brand to influencer and influencer to consumer, future exploration could focus on the channel between the brand and consumer through direct selling. Going forward, brands may prefer to interact with their customers directly, without the use of an influencer, to help establish a close relationship with their audience through a seamless customer journey.
Date Created
2022-05
Agent