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Sup Bra~

Consumer Psych

Anthony Pham

on 30 April 2013

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Transcript of Sup Bra~

Promotion Price Place (Distribution) Product Phoebe Doherty, Genevieve Telford, Helen Moran, Anthony Pham Focused on ‘Tweens’ (aged 8-12)
Training Bra – early puberty
Fashionable Training Bra Trends New Generation Bra market still strong
Introduction of Generation Alpha and ‘Kidults’
Celebrity influence - Greater demand
Looks over practicality Latest bra, your new gfrand Product ‘gfrand’ modified training bra to reflect fashion trends of celebrity icons
Logo – 'a' in the middle represents alpha gen
Variety of colours – main colour is purple - research claims that Tweens prefer purple
Removable straps that can be customised with different patterns depending on your mood - ‘Create their own trend and style –
Automatically adjust dimensions firmly to the breasts
Not tight or too loose Ill-fit bras 8 out of 10 women wear wrong bra size
Bad breast support can lead to
Musculoskeletal pain
Inhibit women participating in physical activity
Special strap magnet can prevent this
Perfect fit & easy to use Tweens like to imitate favourite celebrities
Launch a campaign with a Tween celebrity
Chose Suri Cruise aged 12 - known for being fashionable - Suri a Tween in 2020 to endorse product
Tom cruise is known for his strict parenting skills - wouldn't want his daughter to endorse a non-age appropriate product
Free shipping included - studies show 75% of customers prefer online retailers that offer it
90% of consumers say it would entice them to spend more
Social media websites – Facebook and Twitter - Efficient and effective way to market Promotion Price 'gfrand' is $29.99 - used theories and research to determine this price
Straps bought separately for different occasions and priced accordingly
Diamond strap $14.95 Vs Patterned material $7.85
‘Psychological pricing’ aka ‘odd pricing’ - prices have psychological impact
When Prices are below the nearest round number eg. $9.99 instead of $10.00 - Make consumers think it's cheaper than what it really is
Increased prices often increase consumers perception of the products quality – seems legit
Good price range - not too expensive Target Market Tween girls aged 8-12 – kids close to teenagers
Kids entering early age puberty – beginning to experience breast development
Developing sense of identity
Cultivate a sophisticated self image
Celebrity icon influence
- trends and clothing they wear
Image association- effect bra choice
Why our product appeals Target Market
Kidults influence- allowing children to act older; dress older
Kidults will value product- idea of being youthful
Parents who will have high involvement – child’s first bra
Higher risk product, concerns of inappropriate bras
Target Market Parents will value product-
Comfort protection
Age appropriate
Parents part of target market
Parent and child both actively participate direct influence over what type of bra to buy Marketing Strategies Positioned as fashionable and innovative
Different from competitors training bras
Designs that no longer appear to new generation
Designs unsuitable for age
Aimed to appeal to parents, highlighting:
Comfort and protection
Technology of training bra
Fashionable Consumer Intentions Personal Values Based on the principle that it is important for any company to predict how its consumers and target markets for a particular product will act
Important in terms of demand for products - overestimating or underestimating the demand for a product in a market place can be disastrous.
Consumer intentions can be predicted by considering past behaviour to forecast future behaviour Constant demand in society – for both fashion and health reasons
Alpha members expected to be more materialistic and technology-focused
‘Kids getting older younger (KGOY) phenomenon – new market of Tweens
Reflecting the fashion of icons or celebs can create a large amount of revenue Most successful brands in the future – those that are able to combine a
Grown-up feel
Fun image
Aura of ‘coolness’
Predicted by 2016 lingerie market at retail prices be worth $32 billion with a steady increase
Considers demand and intentions of target market - Theory will continue to be beneficial in 2020 Key in understanding consumers as it helps determine what they value in their individual decision making
Values represent consumer beliefs about life and acceptable behaviour
Represent three universal requirements of human existence: biological needs, requisites of coordinated social interaction and demands for group survival and functioning Linked to brand choice, product usage, market segmentation and innovative behaviour
Social interaction - studies showing that Tweens are already developing their sense of identity and are anxious to cultivate a sophisticated self-image during the ages of 8-12 years.
Partly thanks to effective marketing, and pressure to conform to media images of how they should look and behave Self-image is an area in the market place that our product can fill with a range of stylized training bras
Allowing the ‘tween’ consumers to create their own sense of ‘self’
Reflect the choices an individual makes based on what they are exposed to in terms of social values and values systems surrounding them
The key personal values include wealth, power, status and social stability. Supports our assumption that it will continue to play a role in 2020 as it has done in the past.
Future forecasts show that Tweens are highly influenced by celebrity idols, including pop stars, TV personalities and sports people.
Creates significant demand for merchandise related to these brands and allows growth for our product in 2020. Conclusion 2020 changing technology
Influence of celebrities
Intro to Alpha Gen and ‘Kidults’
Purchases of bras for Tweens will ultimately change References Blackwell, R. D’ Souza,C. Taghian, M. Miniard, P. Engel, J(2006) Consumer Behaviour: An Asia Pacific Approach, Consumer Intentions, Attitudes, Beliefs and Feelings Pg. 274-279
Euromonitor International, Passport GMID Database (2011) Future Watch: How Will Teens and Tweens Define Themselves through Consumption? (Retrieved online on 25th April 2013 from http://www.portal.euromonitor.com.libraryproxy.griffith.edu.au/Portal/Pages/Analysis/AnalysisPage.aspx)
Warburton, S (2010) Just-Style, Global lingerie market sees uplifting forecast (Retrieved online on 25th April 2013 from http://www.just-style.com/analysis/global-lingerie-market-sees-uplifting-forecast_id106393.aspx)
Griffith University | Library Proxy Login
Miller, Thomas. "Cultural Affinity, Personal Values Factors in Marketing." Journal of Marketing 3rd ser. 2.3 (2011): 1-34. Print.
Euromonitor International, Passport GMID Database (2011) Tweens: A Force to be Reckoned With: Changing Consumption Habits of 8-12 year-olds to 2011(Retrieved online on 25th April 2013 from http://www.portal.euromonitor.com.libraryproxy.griffith.edu.au/Portal/Pages/Search/SearchResultsList.aspx) References Linda Simpson, S. D., & Schimmel, J. (1998). Tween consumers: Catalog clothing purchase behavior. Adolescence, 33(131), 637-44
http://search.proquest.com.libraryproxy.griffith.edu.au/docview/195933209?accountid=14543)Blackwell, Roger, Clare D’Souza, Mehdi Taghian, Paul Miniard and James Engel (2006) Consumer Behaviour: An Asia Pacific Approach, South Melbourne, Cengage. 361-362McGhee, Deirdre E; Steele, Julie R. Journal of Science and Medicine in Sport13. Optimising breast support in female patients through correct bra fit. A cross-sectional study. 6 (Nov 2010): 568-72.
Budde, P. (2013). Australia - Digital Economy - Online Retailing - Trends and Statistics. Available: http://www.budde.com.au/Research/Australia-Digital-Economy-Online-Retailing-Trends-and-Statistics.html.
Ronald E. Goldsmith, Leisa R. Flynn, (2004) "Psychological and behavioral drivers of online clothing purchase", Journal of Fashion Marketing and Management, Vol. 8 Iss: 1, pp.84 - 95 http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features50Jun+2011
Holdershaw, J., Gendall, P., & Garland, R. (1997). The widespread use of odd pricing in the retail sector. MARKETING BULLETIN-DEPARTMENT OF MARKETING MASSEY UNIVERSITY, 8, 53-58. http://marketing-bulletin.massey.ac.nz/V8/MB_V8_N1_Holdershaw.pdf
Peine, K., Heitmann, M., & Herrmann, A. (2009). Getting a feel for price affect: A conceptual framework and empirical investigation of consumers' emotional responses to price information. Psychology & Marketing, 26(1), 39-66. Bra Timeline 2010 1900 1960 1990 0 + - = 9 8 7 1 2 3 4 5 6 c Technology Technology still advancing
Younger respondents are tech savvy
Game consoles etc.
Everything online (Online retailer stores) Training bras no longer out dated!
Conform by wearing ‘latest must have items’
Purchases – celebrities – “oversexed pop star wannabe”
Celebrities – latest trends, nicest clothes
Tweens aspire to role models:
Sport stars Influence Kidults A term to describe parents behaving like children
Trying to hang on to their youth – allowing children to act older than their age
Parents allows children to do what they want
How they eat
How they dress – inappropriate brassieres for their age 2020 0 4 P's Marketing Mix Online shopping most popular way to shop
Research: Tween girls prefer the colour purple
Purple themed website – appeal to Tweens $14.95! Two Theories Consumer Intentions
Personal Values Place (Distribution) Distributed from the manufacturer outlet and shipped to the consumers within working days Thank you for
listening! Consumer Intentions Consumer Intentions Consumer Intentions Personal Values Personal Values Personal Values Personal Values
Full transcript