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Transcript of Hipsters
‘Craze shift’ generally means a quick move towards a short-lived popular fad, thus, aligning with the group’s interests towards fashion, music, technology and fashion. As trends change occasionally, the term ‘Craze Shift’ therefore, means changing trends, where the product concept offers up-to-date news on presented categories.
Craze Shift will be manufactured through ACP, a leading Australian publisher holding 50.7% of the publishing industry, having an estimated annual sale of $1.754 billion and selling c.90 million copies annually. With many years of experience and knowledge in the publishing industry, supplying 52 differentiated magazines, the company will provide sufficient expertise for the product to sustain up-to-date information on the listed categories.
Macro environmental factors
generally uncontrollable forces that affect and influence the behavior of society. These include the following:
Environmental factors are influences towards the natural aspects of life. This can involve the future standards of living and access to future resources. Hipsters seek to make a more sustainable future through their vegan and environmentally friendly lifestyles.
As a result, hipster demand will increase towards prefered environmentally sustainable goods, which specifically affects product strategies. Evidently, ACP uses certified chain paper mills to produce paper for their magazines. Alternatively, as deforestation increases, the costs of raw material i.e. paper may rise.
Economic factors are issues relating towards the economy as a whole e.g. tax and inflation. Hipster being middle-class citizen are therefore, strongly affected by any economic changes that present financial difficulty. For example, in a state of economic fall purchasing power will fall as expenditure tightens, thus, influencing the total demand for the product concept and brand and moreover, pricing strategies.
Technological changes that have an impact on the production methods used. Given time, advancements in technology enable greater efficiency and thus a better use of available output, meaning, increasing the level of efficiency.
Hipster’s demand will be heavily influenced upon by the quality of the product and thus, affecting pricing strategies. Additionally, product and price strategies will be affected from future advancements in equipment enabling greater efficiency e.g. printing and photocopying machines. Another technological factor may be due to the cause of increasing capabilities of computers being able to transfer information faster and in a wider range. This may cause redundancy of magazines as computers may deliver files online causing the contents of a magazine to be useless and out of date.
Political Factors & legal factors
Promotion is any form of communication in which advertises a product or service, allowing customer awareness e.g. TV, radio or online advertisements. Craze Shift will have an established website allowing members to interact (forum), update themselves on particular events and information at interest. Craze Shift will also sponsor events catering young-adults to gain further publicity and attention. Evidently, ACP has established 52 different websites catering for each magazine they market including a number of fashion magazines and hosts the '30 days of fashion & beauty' to gain publicity for beauty and fashion magazines. Integrated marketing communication tools, which is the process of managing marketing strategies effectively, will also be widely exercised through advertising and promotional tools.
Programs, services or processes that help manage advertising strategies. Through this, Craze Shift’s advertising strategies will be managed through e.g. advertising management. This would help identify any faults in promotional strategies where amendments can be made.
Strategic methods helping to promote and establish customer awareness. Through this, Craze Shift will use examples of advertising through ACP magazines and personal selling, through oral front-counter-advertising in retail chains.
The tasks involved in planning, implementing and controlling the physical flow of materials and final goods. Craze Shift will be distributed through the strategy of intensive distribution. By using this strategy, it helps promote the group’s individuality where there is an established category of their culture.
This shows that Craze Shift is not just another random magazine, but a magazine for hipsters, which will be distributed to all existing ACP retailer chains making it affordable and accessible. Evidently, ACP intensively distributes their 52 kinds of magazine established with a core focus group. Additionally, the internal chains of distribution will be through ACP’s manufacturing plant in which it is then distributed all existing retailers on an intensive level which already currently provide ACP magazines, and lastly, from retailers to consumers.
Pricing strategies are pricing techniques that influence customer demand and supply. Craze Shift will charge at $4.99 per copy offered on a fortnightly bases. Based on several magazines prices range between $3-$10 or more. Thus, using the strategy of price penetration: new product priced at a lower cost than competitors, it would help generate quick awareness and thus, gain market share at a faster rate.
Another strategy will also be used to influence buying decisions by using psychology pricing where theorists state that even the smallest changes in price will influence the purchasing behavior of customers. Cogently, offering a lower price will help reflect the tribes middle-class status where they are price conscious. In response to competitors e.g. Vice, Craze shift used competitive pricing, setting the price of a product relative similar towards competitors ($5).
Factors which refer to government interventions in the economy e.g. laws and policies. For this, government interventions e.g. tariffs, may threaten our product concept and brand where hipsters may be financially threatened, lowering total demand. As a result, pricing strategies may face barriers in success to gain demand where production costs may rise due to tariffs
Craze Shift Magazine
(cc) image by anemoneprojectors on Flickr
• Online site
• Based on individual perception
• No supported research
• Markets and sells different magazines, despite similar topics
• Supported by research
• 5 in 1 solution magazine
Emerging during early 1940’s and reappearing in 1990’s, a hipster is defined as a group of individuals, whom are interested in and follows latest non-mainstream trends and fashions.
Having a strong spirit towards self-independence, hipsters differentiate and express themselves through non-main stream fads, creativity and intelligence. Possessing a rebellious attitude, hipster’s interests and behavioural influences revolve around fashion, music, technology and politics and are categorised between the age group of 15 to 30, or older.
Hipsters can be found wearing skinny jeans, v-neck shirts, beanies and large nerdy glasses and occasionally seen relaxing at cafes drinking their coffee. However, some hipsters are more diverse and may be seen in other fashions. A more direct response is a group of people who handpick favoured characteristics from other subcultures e.g. nerdy glasses from super geeks (SMH). As a result, their behaviours are strongly influences through fashion, music, technology and political trends.
‘The study of human population in terms of size, density, location, age, gender, race, occupation and other statistics’ (Armstrong 2012). We look more into the study of age as Craze Shift targets 15 to 30 year olds – Millennials, the children of baby boomers. Change in ages will affect the interests of Hipsters and thus, demand for the product and brand.
Social factors are factors that relate towards society and society’s interests i.e. hipster’s interest. In this case, social trends towards a more environmentally friendly or ethical nature. This may influence Craze Shifts demands if it were to be non-environmentally friendly, therefore, affecting product strategies implemented. Alternatively, Craze Shift must become proactive towards changing trends around the world, where if not catered for, hipsters may view it as a lack of responsiveness towards newness.
Macro - Environment
A product is anything that can be marketed for attention, acquisition, use or consumption that might satisfy a want or need. The product that will be marketed towards Hipsters is a magazine. Titled ‘Craze Shift’, the magazine will offer 5 categories of interests towards the tribe linking towards their profile. This will be, non-mainstream fashion trends, music, technology and politics; with the most updated reports and issues.
The remaining category will be a discussion board where consumers can join an online forum and discuss on related topics that they feel need a voice; most poplar discussion will then be published. Physically, our product will be graphically displayed with the most discussed topic or the most interesting topic as the cover. Presenting a large font stating “Craze Shift” where headings, quotes and summaries are provided for insight. In response towards hipsters, Craze Shift will be established using recycled materials and packaged by the most efficient recyclable fibre. To conclude, Craze Shift is an actual product, the tangible aspects of a product, which help develop customer value.
Indirect and direct competition is factors towards micro environmental forces. Micro environmental forces are generally controllable forces in which firms can act upon and predict in a proactive manner.
Direct competition are firms/organisation within the same industry who directly compete with the same target market where established goods are similar, in this sense, substitute goods. An example includes Vice Magazine Publishing Inc. Vice has been established over 18 years and distributes in 28 countries having approximately 900,000 readers.
Indirect competition is competition faced by the firm that focuses its production in another industry. Its key competitive force is that it targets our area of consumers. An example of indirect competition is a recent popular social site, Tumblr, where Hipsters can interact and establish their own pages listing what they deem to be superior towards their interests. Holding millions as fan base, hipsters can easily access this site to inform themselves on the most relatively updated fashions at a cost free expense.
All businesses and targeted consumers are affected by...
Non Mainstream Fashion
Online forum for members
All products face....
By Lisa Nguyen, Phillip Lin
& Steven Wei
Vice Media Inc.