Collaborative Consumption: The Fashion Community

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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 Ajzen
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