Luxury Fashion Theory, Culture, and Brand Marketing Strategy
MetadataShow full item record
This article describes the core tenets of fashion marketing theory (FMT) from the perspective of economic psychology. The study here is unique and valuable in proposing empirically testable hypotheses that follow from FMT and in describing evidence from available literature testing these hypotheses. The core tenets reflect the view that impactful fashion marketing moderates the relationships among price and consumer demand for the firm's offering (i.e., brand) by psychological customer segments, and subsequently firm profitability. Relating to fashion marketing, “psychology” in “economic psychology” includes the influences of chronic desire for conspicuous consumption (CC) and desire for rarity as relative human conditions, that is, humans vary in these desires; consumers relatively very high versus very low in these desires are more prone to enact conspicuous choices whatever the price level of the object or service. Consequently, different pricing points (decisions) that maximize profitability vary considerably for product designs which are positioned high in CC and rarity directed to customers very high in chronic desire for CC and rarity versus product designs which are positioned low in CC and rarity directed to customers very low in chronic desire for CC and rarity.
Showing items related by title, author, creator and subject.
Economic Psychology and Fashion Marketing theory Appraising Veblen's Theory of Conspicuous ConsumptionWoodside, Arch (2012)The study here serves to examine customer choice and firm profitability outcomes from the conjoining of four perspectives: economics, fashion, marketing, and psychology. This article describes core tenets of fashion ...
Guercini, S.; Woodside, Arch (2012)Purpose – The purpose of this paper is to describe inter-firm marketing cooperation as a strategy by small and medium enterprise (SME) players in local systems of fashion firms. Design/methodology/approach – This case ...
Orchid biogeography and factors associated with rarity in a biodiversity hotspot, the Southwest Australian Floristic RegionPhillips, R.; Brown, A.; Dixon, Kingsley; Hopper, S. (2011)Aim: The causes of orchid diversification and intrinsic rarity are poorly resolved. The Orchidaceae of the Southwest Australian Floristic Region use a diversity of pollination strategies and sites of mycorrhizal infection, ...