Collaborative Consumption The Fashion Community - 5756 Words

Collaborative Consumption: The Fashion Community Home-written individual Exam Table of Contents 1 Introduction and Assumptions 2 2 Consumption Rationales 2 2.1 Cognitive Perspective 3 2.2 Experiential Perspective 4 2.3 Cultural and Social Perspective 5 2.4 Evaluation 6 3 Segmentation 3.1 VALSTM Framework 6 7 3.1.1 Thinkers 8 3.1.2 Strivers 8 3.1.3 Experiencers 9 3.2 Evaluation and Recommendation 9 4 Service Offer 10 4.1 Product 10 4.2 Price 11 4.3 Promotion 11 4.4 Place 11 4.5 Evaluation 11 5 Attracting more Customers 12 5.1 Classical†¦show more content†¦CC is a business model, that is used to grant a community of consumers access to goods or services by sharing rather than ownership. This trend is enhanced further as newly developed technologies such as social media and the internet have spread globally (Walsh 2011). 2.1 Cognitive Perspective The Cognitive Perspective or the studies of Consumer Behavior describes consumers as rational decision makers that evaluate different features of alternative products and goods according to personal preferences and logical reasoning. Consumers act like a computer driven by the brain’s wants. Østergaard and Jantzen (2000, p.15) describe this behavior as a consumer-driven adjustment towards equilibrium of a person’s preferences and the current situation in the given environment. One of those models used to explain this rational evaluation of goods and services in the Cognitive Perspective is the Fishbein Model. Consumers form an attitude (A) towards a product based on an evaluation (Ei) of several attributes (i) and the belief (Bi) that a product possesses these attributes. A larger attitude towards a product increases the probability of buying the product (Fishbein and AjzenShow MoreRelatedHow Textiles And Fashion Designers Have Contributed And Approached Fundamental Issues Within Ecological Design1414 Words   |  6 PagesSUSTAINABILITY ESSAY Explore and comment on how textiles and fashion designers have contributed and approached fundamental issues within ecological design. INTRODUCTION Ecological design is the sole responsibility of innovation and the creativity of products and objects that will sustain our society and future societies. It is critical that we change the way sustainable design is perceived and interpreted, by beginning to develop an understanding of the history and journey from ‘Green design’Read MoreActivity Theory As A Theoretical Framework1697 Words   |  7 PagesLiterature article Roos, A., (2015) Activity theory as a theoretical framework in the study of information practices in molecular medicine. 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