9CUSTOMIZATION Flashcards
What is the difference between customization and personalization in the fashion industry?
Customization involves producing unique products tailored to individual customer requirements, while personalization adds a personal touch to pre-existing products.
How has consumer behavior shifted from mass consumption to individual identities?
Consumers today seek products and services that reflect their personality and individual identity, moving away from standardized offerings towards customization and personalization.
What are some key characteristics of customization in the fashion industry?
Customization involves high degrees of personalization, technology-driven production processes, limited edition production, customer engagement, and premium pricing.
How does technology contribute to customization in the fashion industry?
Technology-driven processes such as virtual try-on, AI-driven customization, custom sizing, and collaborative customization enhance the flexibility and user-friendliness of customization options for consumers.
What psychological factors contribute to the success of product customization in fashion?
Psychological ownership and the endowment effect play key roles, as consumers value items more when they are involved in the customization process, leading to increased motivation to finalize purchases.
What is premiumization, and why do customers pay more for premium products?
Premiumization emphasizes superior quality and exclusivity, encouraging customers to pay higher prices for products that make them feel better, demonstrate success, offer unique experiences, or are labeled as limited edition.
How can companies implement personalization as a marketing strategy?
Companies can implement personalization through targeted email campaigns, social media ads, product recommendations, website customization, and onsite tools based on consumer browsing history and behavior.
What are some implications and challenges of implementing personalization as a marketing strategy?
Challenges include privacy concerns, compliance with regulations such as GDPR, and the need to balance personalization with consumer preferences and expectations, especially across different generations.
How has consumer behavior evolved from the mass consumption era to the present?
Consumers now seek products and services that reflect their individual identities, moving away from standardized offerings towards customization and personalization.
What distinguishes customization from personalization in the fashion industry?
Customization involves producing unique products tailored to individual customer requirements, while personalization adds a personal touch to pre-existing products.
What are some key characteristics of customization in the fashion industry?
Customization involves high degrees of personalization, technology-driven production processes, limited edition production, customer engagement, and premium pricing.
How does technology contribute to customization in the fashion industry?
Technology-driven processes such as virtual try-on, AI-driven customization, custom sizing, and collaborative customization enhance the flexibility and user-friendliness of customization options for consumers.
What psychological factors contribute to the success of product customization in fashion?
Psychological ownership and the endowment effect play key roles, as consumers value items more when they are involved in the customization process, leading to increased motivation to finalize purchases.
What is premiumization, and why do customers pay more for premium products?
Premiumization emphasizes superior quality and exclusivity, encouraging customers to pay higher prices for products that make them feel better, demonstrate success, offer unique experiences, or are labeled as limited edition.
How can companies implement personalization as a marketing strategy?
Companies can implement personalization through targeted email campaigns, social media ads, product recommendations, website customization, and onsite tools based on consumer browsing history and behavior.
