Strategic Plan

Gauds of Trends’ Strategic Plan
I. How can we incorporate social, cultural, political, and economic trends into a successful design? With in agreement to the book, we as a group are going to "improve our competitive knowledge by gathering bits and pieces of information, collaborate as a team to put the puzzle pieces together, and continuously improvise strategy (Brannon 2006)." By following this dictum, we can find the answer to our questions, be innovative with our thinking, and achieve a successful final product.

II. The Context

Social : Researched by Alexandra Hanner
o The different social classes within the U.S. and other countries our product is being marketed to
o The largest economic classes
o Popular social groups shown in movies, music, interests and activities
Media’s role models and the message they are sending

Cultural : Researched by Alyssa Harris
o Current events
o Popular ethnic foods
o Varies textile manufacturers
o Popular art, poetry and writings; worldly inspirations
o Most popular places to travel
Places advertised on the Travel Channel, National Geographic, and Honeymoon destinations advertised in wedding magazines

Political: Researched by Annaliese Moergeli
o Election
Types of social groups voting for a particular candidate
o International Relations
Conflict within the world and how that affects our trade relations
o Various Controversial Issues
Shows consumers attitudes, and moral standings of the times (weather conservative or more liberal)
o Consumer’s overall attitude toward the government (explores weather consumer are wanting to be individualists or conformists and can also reflect on consumers buying habits)
o Environmental Issues
Global warming and “going green”
o Immigration Laws

Economic: Researched by Alexandra Hanner
o Current events within:
Wall Street
International trading policies (if and where sanctions are in place)
World Trade
o Housing Markets
o Prices of living
o The rate of disposable income
o Unemployment rates
o Immigration laws and rates of incoming immigrants
o Where is the money going and what are people spending it on: staple or leisure goods

III. Product

Color: Researched by Alyssa Harris
o What colors are popular within:
Pantone, advertisements, book covers, cars, food colorings, interior furnishings, art work, paint on housing structures
o Architecture
Best selling paint for houses and interior
Most popular structures to visit around the world

Fabric/Fiber/Finish: Researched by Katie Bennett
o Popular Production Processes
o Organic versus synthetic, bamboo vs. cotton
o Metallic’s vs. matte, quilted, cotton, leather
o What is the popular textile
Embroidered, paten leather, cotton, silk

Design/Style : Researched by Nick Martin
o What are the trends?
Big bags, little bags, clutches, messenger bags, backpacks
o What are people doing?
Traveling, going out, backpacking, hiking, skiing, working out etc.
o Over the shoulder bags, long straps, short straps
o Compartments needed, or open boho bag

Major designers and Competition: Researched by Chelsea
o What are the biggest selling bags?
o Why are they the most popular?
o What do they have to offer the customer?
o How long have they been popular for?
If the bag has become a classic; why? And if it was a short lived trend, why did it not gain long lasting momentum?
o What are the intended uses for the bags?

Price Points: Researched by Everyone in their particular assigned research material
o What are the average price points?
o Are the expensive bags or less expensive bags selling better
o What demographics are most popular with what price range?

Related Accessories : Researched by Chelsea
o Technology advances
What’s popular/selling well in the technological world?
I-Pod, cell phones, lap tops, hand held video games
o Other popular trends
Dogs in purses
People drinking coffee
Beauty products
Gym clothes/the health club craze
Conserving grocery bags

IV. The End User

Geographic : Researched by Nick Martin
o What areas are spending the most money?
o What are they spending their money on?
o What factors are driving these people to spend money or not to spend money?
o What are the more popular test markets for products and why?

Psychographic: Researched by Alyssa Harris
o People’s attitudes toward life, politics, food, environment, world issues etc.
o Morals/opinions
o Personality traits

Behavioral: Researched by Katie Bennett
o People’s favorite past time at this particular time
Shopping, watching sports, reading, having family time, outdoor activities, travel, etc.
o Activities
o Religious practices
o Traditional vs, eccentric

Demographic: Researched by Annaliese Moergeli
o What ages are spending the most money and what are they spending their money on?
o Occupational status of women, men and children of all ages
o Average income per age group

V. Identify the uncertainty, Look for the “Curve”, and Identify who and how trends are set

This will be researched by all members of the group within their specified areas