Friday, 8 November 2013

Market Research and Trends

Friday Lecture - Market Research and Trends



  • Primary Research - original/own findings
  • Secondary Research - existing research

“Fashion used to come from one source at a time, be it the street, the runways or the entertainment business. The interesting thing about today is that influences come from high and low- everything from couture to Target.” - Michael Kors
TREND RESEARCH ANALYSIS
  • Short Term - Brand/Consumer/Competition/Media/Product
  • Long Term (PESTLED) - Political/Economy/Sociocultural/Legal/Technology/Environment/Demographics
  • Who uses Trend Research? - Product Designers/Managers/Graphic Designers/Buyers/Merchandiser/Marketing/Retail
TREND TIMESCALES
  • Megatrends - 10-50 years
  • Socio-Cultural Trends - 5-10 years
  • Consumer Trends - 2-5 years
  • Behavioural Trends - Months to 1 year
TRENDS FRAMEWORK
  • Megatrend - Impacts of Climate Change
  • Socio-Cultural - Environmental and Social Awakening due to Climate Change
  • Consumer - Urban and Educated Youths re-thinking Consumption 
  • Behavioural - Green Practices
DOMINANT TRENDS
  • Megatrends - Globalisation/Digital/Environment/Health and Wellbeing
  • Socio-Cultural - Ageless Society/Body Perfection/Networked Society/Personalisation/Globalisation

"Going around museums and galleries, seeing films, talking to people, seeing new shops, looking at silly magazines, taking an interest in the activities of people in the street, looking at art, travelling: all these things are not useful, all these things do not help me, do not give me any direct stimulation to help my search for something new. And neither does fashion history. The reason for that is that all these things above already exist." - Rei Kawakubo 2013

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