EOC Week 7 Retail Pest

No brand exists in a vacuum, and a PEST analysis helps a company determine the political, economic, social and technological environment the brand will live in.

POLITICAL: Some products have state and local fees or taxes imposed on them, based on the type of product and where you live. Some fees are subject to sales tax; others are not.
Marketplace items are sold and shipped directly by third-party Sellers who are responsible for the remittance and reporting of applicable sales taxes. Each Marketplace Seller has different sales tax collection obligations, depending on their business policies and location of their operations. Best Buy Marketplace collects sales taxes on the Seller’s behalf according to their instructions. Best Buy competition are Apple, Amazon, and WalMart http://finance.yahoo.com/q/co?s=BBY+Competitors they do have the ability to take over, they are a higher electronic store.
ECONOMIC: Pay no interest¹ on all purchases $429 or more if paid in full within 18 months. http://www.bloomberg.com/news/2011-09-13/best-buy-profit-trails-analysts-estimates-as-television-sales-decline.html
SOCIAL DEMOGRAPHICS: 
TECHNOLOGICAL:

 

POLITICAL: 5 Point Action planning,  Macy’s uses nearly 300 million hangers each year in its stores. The new black hangers can be manufactured using recycled plastic materials, saving on the new petroleum-based resins used to make clear hangers. In 2008, Macy’s replaced the primary

handled shopping bag used in its stores with one made from kraft paper. The bags are 100 percent recycled with 50 percent recycled material.
ECONOMIC:  Macy's has credit card agreements. http://www.macys.com/service/credit/agreements/index.jsp Macy's Vendor Development Program is a corporate-wide initiative designed to foster the promotion, growth and development of minority and women-owned businesses. As a retailer with more than 140 years of experience, Macy's considers the program a sound business commitment. By supporting local and regional businesses, we believe we can strengthen and expand while contributing to the economic growth of the communities we serve. This goal will continue challenging us to seek new sources of ideas, creativity and quality.
SOCIAL DEMOGRAPHICS: Macy's really has been able to maintain whats popular and whats not within their customers. Since it is a department store they are able to achieve fashions fads with children, teens, and the older crowd. The lifestyle has always been the same, they appeal to home goods as well as personal needs.
TECHNOLOGICAL:   Macy's Inc. is launching a series of new tech-driven initiatives in its stores, including free Wi-Fi, digital receipts and cosmetics kiosks. It will also begin using computer tablets for product demonstrations and furniture deliveries.Macy's will begin testing Beauty Spot, a custom-designed cosmetics kiosk that will be installed in a handful of stores. Customers interested in lipstick or foundation, for example, can use the kiosks to look at product details, and a dedicated associate will be available to process credit-card transactions using a hand-held mobile device. http://latimesblogs.latimes.com/money_co/2011/09/macys-adopts-new-technology-in-stores-and-online.html 

 

POLITICAL: The Apple Online Store accepts a variety of payment methods.You can also combine payment methods to pay for your purchase. Most debit and check cards have daily spending limits that may substantially delay the processing of an order, even if there is enough money in an account. When using a debit card, funds are immediately reserved in your bank account at the time you place your order. Please consult your card-issuing bank for information about your daily spending limits if you are having trouble placing your order. Apple provides multiple ways of being responsible, they provide educational resources for workers throughout our supply chain from training on their rights under the law to free college classes in language skills, computers, and other subjects. Many workers also have the opportunity to earn an associate’s or bachelor’s degree. To reduce the risk of hazards in the workplace, suppliers must provide proper protective gear, guardrails, safety harnesses, and other safety equipment, as well as comprehensive, up-to-date training for workers.

ECONOMIC: For a short time, Apple is providing new cardmembers to get special financing for up to 18 months on qualifying purchases including iPhone, iPad and Mac at the Apple Store made within 30 days of account opening. Apply now for the Financing Visa Card from Barclaycard.

SOCIAL DEMOGRAPHICS: In my honest opinion, i believe Apple has multiple changes in lifestyle. Apple is constantly appearing with new products that are being used in our every day lives. We can use Apple phones for everything, we have become so attached to our phones that we are able to do everything on them. Wors the same with computers, laptops, and for music like Ipod and Itouch.

TECHNOLOGICAL:   Since Apple is up to date on technology, that are very informed on what is the best next thing, hey are able to maintain their customers happy. Their research is amazing if they keep on coming up with a new Iphone every year.

Week 5 EOC Fashion Trend Production

How do trend projections play a role in branding?
When numerical data are available, a trend can be plotted on graph paper to show changes through time. If desired, the trend line can then be extended or "projected" into the future on the basis of the recent rate of change. Such a projection shows where the trend should be at some point in the future assuming there is no shift in the rate of change. With that being said, in branding trend projection can show where they will be in the near future.


How are people interacting with brands and incorporating them into their lives?
People are interacting with brands on a emotional level. People have become more attached to who they wear and what they  wear. Not only does it matter who they wear, but its a lifestyle.

More brands are collaborating to create new products and designs. What significant trends do you see in partnering among brands?
http://www.fastcodesign.com/1669718/in-innovation-today-the-smartest-companies-collaborate-with-enemies Not only are there a huge variety of brands that are collaborating, but also i read that they are collaborating with their competition.  http://luxurysociety.com/articles/2012/04/for-and-against-luxury-brand-high-street-collaborations Whether or not luxury brands have compromised this ‘exclusivity factor’ remains to be agreed upon, but it proves excruciatingly difficult to find but one example of a luxury brand high street collaboration that hasn’t been a roaring success.

How do you advise companies to look out for trends?
I believe that companies need to be up to date in everything. Whether its fashion or drinks. They need to know what is the best next thing. The Iphone and Galaxy have been able to maintain their respect with customers because they are coming out with new things.

Week 4 EOC: McDonalds Response to SuperSize Me

In a news post I had read, McDonalds response to the movie Super Size Me was an eye opening I would say. In my opinion, they didn't take the negativity and drown it. McDonalds actually did something about. If you look at their menu, they now have salads, smoothies, and yogurts. McDonalds decided to speak up to Super Size Me by adding healthier choices in their menu. For the latter half of the 20th century, television advertising was the mainstay of the brand – the guaranteed medium to hit its audience. Super Size Me did a pretty good job on getting McDonalds information out there because we are a new generation and we find out our info thru the internet or the TV. Brand building and brand strategy are also based on marketing techniques and models. McDonalds was able to achieve this goal thru media, they broadcasted commercials and magazine ads to let the public know about the healthier choices on their McDonalds menu.

John Varvatos

John Varvatos was born on February 1, 1966 in Michigan. He is a well-known fashion designer that gains his knowledge through working for Ralph Lauren and Calvin Klein. Every brand project will have a history and it’s important that the designer understands a brand’s origin. Pg 40 He started out in the year 2000 as a new fashion designer for men’s clothing and through out the years, he has earned many awards, and not only that, he beat Ralph Lauren in the CFDA Menswear Designer of the Year. Brands don’t just arrive out of nowhere. They are the product of a company ‘vision’. Although making lots of money is a vision of sorts, it is not exactly specific. Any successful brand needs to be part of a clearly defined set of objectives PG 42  Varvatos strengths will have to be how talented he is, he is capable of branching out on his own and being a very successful man. He has a collection, fragrances, footwear, and accessories and has his own boutiques. His weaknesses will probably be that he does not have enough of locations worldwide. A great opportunity that he has will have to be the fact that he is a mentor for NBS’s Fashion Star. It is said that he has brought great talent to the show and his opinions really matter. His threat will have to be anyone who is in the same profession as he is in, who has a luxury brand for men like Ralph Lauren and Gucci. Companies need to take a good look around them in order to decide what sort of strategy is required, pg 40.

http://www.askmen.com/celebs/men/business_politics_60/93_john_varvatos.html

http://www.buddytv.com/info/john-varvatos-info.aspx

Week 1 EOC: How to Make it in America

In the episode of "How to Make it in America" both of the guys we're trying to find a way to make money and sell good quality jeans. Well more like denim fabric. They we're running around New York City trying to sell products to make money, they then paid of a $3,000 loan and took it out again, this is how they figured out the money to buy the denim. I think they figured out a solution properly, get the money, buy what you need, sell it, and make more money. So you have to invest in yourself in order to achieve.They also did great at being able to distinguish that the denim fabric was real and not fake. It was great that both of the guys were confident. They didn't do too good on having a plan, they went and decided to make jeans but have no plan, and they borrowed money from a loan shark.

Week 1 EOC: My Voice

Fashion Professional! You see them all around, in T.V, magazines, with celebrities, absolutely everywhere, and then there’s me, how I am supposed to compete with all these professionals in the future. EASY! I know I’m extremely dedicated, I know that with my hard work, keeping my focus, and following my heart, I will make it one way or another. This is what I've wanted since 8th grade and I will keep on working on it until I've made it. I love everything that has to do with fashion, and even if I start off small and make my way up, I will know that I’m on the right path to success. I always get the “Why Fashion” question? Well, why do something for the rest of your life and be unhappy? Being a fashion professional is beneficial to me by being involved in something I enjoy rather then having to wake up every morning doing something I hate for years to come. I rather work in an environment that I’m passionate about and at the end, I wouldn't call it working.