Strategic Plan

I: How do we find the momentum? We will collect data on all aspects affecting consumers and their spending habits, so that we can understand what consumers need and want.

II: The Context:
Social (Megan Berry):
o Social movements within the US or Globally. How it effects consumer needs/wants and spending?
o Lifestyle trends, styles adopted, what is considered appropriate.
o Global warming, lack of natural resources, growing concern for the environment.
o Issues important to the people.

- Cultural (Lizzie Dobrowski):
o Traditional family or cultural, keeping in mind the US is a “Melting Pot”.
o Media trends, how the media influences consumers.
o Underground fashions, what influenced people, music, art, war, ect.
o Architecture- houses, buildings.

-Political (Mallory Black):
o Current political environment and the upcoming changes, how it will affect the consumer and the retail market.
o Current political leaders.
o The UN- Global communication, relationships between other countries and the US.
o Election year?
o War effects the process of textile production and research?

- Economics (Stacie DuBois):
o Strength of the stock market.
o Current state of the overall economy, which direction is it going?
o How is the Economy going to affect our consumer? Our sales?
o Consumer confidence Interval, is it high or low?
o Exchange rate of the dollar?
o Trade restrictions?
o Cost to make, transport, and ultimately sell a product.

III: The Product:
- Color (Alisyn Guest):
o Pantone color forecast.
o Color Association.
o Popular color pallets for interior designs and architecture.
o Availability of dyes, how the dyes are set, what chemicals have to be available?
o Popular car colors.
o Color trendsàblack, bright color, earth tones?

- Fabric/Fiber/Finish (Mallory Black):
o What’s available? Is it accessible because of trade restrictions? Cost? Ect.
o Which fabrics and fibers are most popular?
o Researching Green fabrics, and recycled fabrics.
o How a fabric performs? Durability? Color? Texture? Stiffness? Ect.
o Advances in textile production due to technology: space travel, war, safer cars, more durable fibers, weather resistant, ect.

- Design/Styles (Megan Berry):
o Cars: shape, color, overall feel, small or large?
o Popular artists?
o Architecture and interior design- color, shape, line movement, rhythm, shape repetition, ect.
o What social movements are popular, how do they affect design?
o What style of bag is popular? Large bags, structured, loose, clutches?

- Major designers/Competition (Lizzie Dobrowski):
o Which designer’s bags are popular? Why?
o How do they reach their target market? Who is their target market?
o What textiles and colors are they sourcing?
o Price points? Markdowns?
o How long have they been in business? Do they have an established customer base?

- Price Points (Alisyn Guest):
o How much discretionary income do consumers have? How does this affect sales of bags?
o Price points of similar items?
o Which price points have the most sales?

- Related Accessories (Stacie DuBois):
o New technology- cell phones, computers, mp3 players.
o Travel bags, carry-on size, and suitcases.

IV: The End User:
- Geographic (Megan Berry):
o Which areas are spending the most money?
o What do the consumers in these areas have in common? What is driving them to spend?
o Where do they go to shop? What types stores/products are available to them?

- Psychographics (Mallory Black):
o Values and beliefs?
o Personality traits that affect buying?
o How consumer’s lifestyles affect s the need/want for a product?
o Consumers feelings on : the environment, politics, war, world issues, ect.

- Behavioral (Alisyn Guest):
o Hobbies: what they do in their time off: sports? Family? Vacation? Ect.
o What the consumer is passionate about: Sports, dance, fine foods, ect.
o How much time do they spend working vs. time off?
o Religion?

- Demographics (Stacie DuBois & Lizzie Dobrowski):
o How does the consumer’s education level or occupation affect their spending?
o What age group is spending the most money? On what?
o How does gender affect interest in bags?
o How much discretionary income do people have? What are they spending it on?