AMT 314: Strategic Plan

Group Name: Peaceful Shipwreck
Group Members:
Kim Armentrout
Andy Bennett
Jamie Carver
Sierra Cook
Siena Moore

Strategic Plan

Question:

Where are the hidden currents and where should we look to find this momentum?

Course of Action Resulting from Question:

*The process of finding this momentum will include “becoming sensitive to directional signals that others miss” from the past and present currents of the fashion industry (Fashion Forecasting Second Edition, Evelyn L. Brannon, Page 5).
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Forecasting Tools that will be employed:
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We will incorporate the six rules of forecasting to help locate the hidden currents of the momentum in the fashion industry.
  • Our Group will analyze, synthesize, organize, and translate the data collected to find the reoccurring tends in the past and present so we can predict what might occur in the future.
  • As a group we will understand the forecasting tools and theories so that they can be applied when working with the data.
  • We will use numerous diversified and credible resources to support the findings that result from our research.
  • We will be open to outlier information

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Qualitative Research Direction Points:

(Delegated individual research)

1. Political (Siena)

-Recession

-Disposable Income

-Presidential Race

  • The affect of the future President

-International Issues

2. Social (Jamie)

-Social Movements

  • Going Green, Natural Disasters (Global Warming), Animal Rights

-Equality

  • Gay Rights, Gender Equality

-Lifestyle

  • Leisure Activities, conspicuous leisure

-Social Appropriateness

  • What's acceptable based on demographics

3. Cultural (Sierra)

-Consumerism

  • Conspicuous consumption

-Beliefs and Traditions shared by a group

-Media/Entertainment

  • Newspaper, magazines, television, internet (firstview.com, fashion.net, NRF Smart Brief), fashion related Groups (Cotton Inc., WGSN, Pantone, AATCC, ITAA)

4. Economics (Kim)

-Inflation

  • Cost of supply increases

-Trade Restrictions

-Consumer Spending

-Unemployment/employment

-Outsourcing

  • Materials, labor

-Natural Resources

  • Oil (supply, shortage, issues)

-Sales and Data

  • Fashion industry successes and flops

5. The Consumer (Sierra)

-Qualitative data about the consumer

  • From journals, books

-Psychology

  • Values, habits

6. Other Information Specific to Product (Andy)

-Color

  • Color Forecasting

-Trends

-Styles

-Textiles/Fabrics

-Technologies

-Outliers

-Accessories

-What other designers/companies are doing

  • styles, sales, textiles, area of industry

Qualitative Research Goals:

  • Our group will analyze qualitative data that is listed above for distinctive traits of 2004, the current year,and recent past .
  • The entire group will do an environment scan for the year 2004, the current year, and recent past.
  • Each member will upload information and pictures in a timely fashion.
  • The group will have weekly meetings to ensure the quality of information and to stay on course.

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*Our group will use the Forecasting tools integrated with the qualitative research we have evaluated to successfully develop a 2010 qualitative forecast for the Butler Bag company.

1 comment:

Mariam said...

Dear Team

I am pleased to see that you edited your plan of action. My concern at this point would be that you are looking in the same place and might end up with several blind spots.

I encourage you to allocate the workload accordingly, upload the data add comments when appropriate.

This way, you are sure you are not missing any thing, because hopefully someone else in your team would have noticed it or have done the research on that specific topic.

M.