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Business owners have less control of these external factors, and their impact in changing them is minimal. Instead, small companies must adapt to these macro environmental factors, which include consumer characteristics, technology, government influence and the economy.
The way small companies adapt to macro environmental factors determines both their ability to differentiate themselves from key competitors and overall success.
Union workers in clothing manufacturing plants may picket their employers, especially if their wages or medical benefits are less favourable than workers in comparable industries.
Workers picketing their clothing employers impacts production. This can cause delays for retailers in getting spring or fall fashions on time. Activists who are not employed by the companies may also picket retailers who purchase clothing from countries known for violating child labour laws.
During economic boom periods, people have more disposable income.
Hence, they may buy more clothes, increasing sales for clothing manufacturers, wholesalers and retailers. However, recessions have the opposite effect.
Sales for these various clothing entities may be significantly lower. Consequently, retailers may be stuck with large amounts of inventory. And they may have to sell the clothing at substantially reduced prices. Clothing manufacturers and retailers may also need to sell lower-priced clothing brands to compete with more generic brands.
Consumers often shop for cheaper brands when they have less disposable income. These factors affect the clothing industry in different ways.
For example, a small clothing manufacturer needs to create styles that appeal to those of different cultures, especially if those cultural groups represent large enough segments of its market.
Contrarily, clothing manufacturers, wholesalers and retailers avoid creating too many clothing items that fall outside the norms of society, such as styles worn years ago. An aging population may increase the demand for larger jeans and pants sizes, such as relaxed or looser-fitting styles.
Generally, many people become more sedentary when they get into their 40s and 50s. For example, the scarcity of certain materials, such as leather, may force retail and wholesale clothing companies to sell more faux or substitute leather products.
Retailers may increase the prices of cotton clothing if they encounter shortages of this raw material, as they must pay their manufacturers more.
The introduction of new clothing styles by a competitor can shift demand away from older fashions. Hence, a small clothing manufacturer may need to discontinue certain clothing lines and produce new ones that meet the needs of consumers.
Moreover, clothing companies may add more advanced equipment in their plants like robots, which may force companies to fire some workers. Inthese two categories together constituted around 6.CHAPTER III CONCEPTUAL FRAMEWORK OF CONSUMER BEHAVIOUR INTRODUCTION Consumer behavior is at the core of the marketing function.
The concept is difficult to understand, but it is important for efficient and effective marketing. Consumer behaviour consists of actions, reactions and consumer sees, thinks, prefers and buys is of great.
CONSUMER BEHAVIOUR IN PANTALOON FRESH FASHION, the consumer, is now giving way to international formats of retailing.
There had been a boom in retail trade in India owing to a gradual increase in the disposable incomes of the middle class households. More and more players. Consumer Behaviour by Batra, S, K & Kazmi: The book has described consumer decision making process, buyers black box and importance of consumer behaviour studies for marketers in order to understand what satisfy the ultimate consumer.
A Project Report ON “To study the consumer behavior for purchasing mobile handsets” For IMRB International PUNE Submitted To University of Pune, Pune In Partial Fulfilment of Requirement For the Award of Degree of.
Brand Image and Consumer Behavior Brand image has been studied extensively since the 20 th century due to its importance in building brand equity.
In the increasingly competitive world marketplace, companies need to have a deeper insight into consumer e- b.
Consumer Buying Behaviour In Pantaloons Retail India. PRIL from a small garment manufacturer to the #1 retailer in India by the early 21st century. It examines the evolution and growth of PRIL until the mid s, and then traces the rationale behind the launch of its first retail format Pantaloons, a family departmental store.